Business News Iraq

  • TOKYO, Sept 13- Oil futures fell on Friday as optimism over an end to the U.S.- China trade war faded, leaving prices set for a weekly loss after days of wild gyrations. Gloom over the dispute between Washington and Beijing left investors shrugging off a commitment from Organization of the Petroleum Exporting Countries producers to trim output, with more signs...

  • ABU DHABI, Sept 12- OPEC is notorious for arguing over production policies- but Prince Abdulaziz bin Salman has effectively managed to deliver his first output cut just four days after becoming the new Saudi energy minister. Prince Abdulaziz said first and foremost he was keen to rebuild trust with oil neighbours Kuwait, the United Arab Emirates, Oman and other...

  • *Trump official denies report on interim China trade deal- CNBC. *U.S. briefly overtakes Saudi Arabia as top oil exporter- IEA. NEW YORK, Sept 12- Oil prices fell 2% on Thursday after a report cast doubt on the possibility of an interim U.S.- China trade deal and as a meeting of the OPEC+ alliance yielded no decision on deepening supply cuts.

  • Non- OPEC supply from U.S., Norway and Brazil set to surge. LONDON, Sept 12- Global oil demand is weathering economic headwinds, the International Energy Agency said on Thursday, buoyed by lower prices brought on by abundant supply as the United States briefly dethroned Saudi Arabia as the world's top exporter. U.S. crude exports spiked to more than 3 million bpd in...

  • *OPEC cuts oil demand forecasts, following EIA. *Trump discussed easing Iran sanctions- report. Market participants cited a report from Bloomberg that Trump discussed easing sanctions on Iran to help secure a meeting with Iranian President Hassan Rouhani later this month.

  • *Canada's 10- year yield touches a near six-week high at 1.442%. TORONTO, Sept 11- The Canadian dollar was little changed against its U.S. counterpart on Wednesday, holding near a six-week high it notched the day before, as oil prices rose and domestic data showed higher than expected industrial capacity usage. Meanwhile, the price of oil, one of Canada's major...

  • LONDON, Sept 11- OPEC on Wednesday cut its forecast for growth in world oil demand in 2020 due to an economic slowdown, an outlook the producer group said highlighted the need for ongoing efforts to prevent a new glut of crude. OPEC, in the report, lowered its forecast for world economic growth in 2020 to 3.1% from 3.2% and said next year's increase in oil demand would...

  • ABU DHABI, Sept 11- OPEC and its allies will discuss whether there is a need for deeper cuts in oil production at a ministerial meeting on Thursday, Iraq's oil minister said. The Organization of the Petroleum Exporting Countries and allied producers led by Russia, a grouping known as OPEC+, agreed last year to cut global crude supply to support prices and balance the...

  • NEW YORK, Sept 10- Oil futures climbed to the highest in almost six weeks on Tuesday on expectations the Organization of the Petroleum Exporting Countries and its allies will agree to extend crude output cuts to support prices. Prince Abdulaziz bin Salman, Saudi Arabia's new energy minister and a longtime member of the Saudi delegation to OPEC, said the...

  • Iraq's Electricity Minister Luay Khatib, Oil Minister Thamer al-Ghadhban, and the Executive Director of the International Energy Agency Fatih Birol give a press conference at the Iraqi Oil Ministry's headquarters in the capital Baghdad on April 25, 2019.

    OPEC's second-largest crude producer is often labeled the group's 'problem child' for chronically overproducing.

  • LONDON, Sept 10- Oil futures rose on Tuesday to their highest levels in almost six weeks on optimism that OPEC and other producing countries may agree to extend output cuts to support prices. Prince Abdulaziz bin Salman, Saudi Arabia's new energy minister and a long-time member of the Saudi delegation to the Organization of the Petroleum Exporting Countries,...

  • LONDON, Sept 10- Oil futures rose slightly on Tuesday to their highest levels in almost six weeks on optimism that OPEC and other producing countries may agree to extend output cuts to support prices. Prince Abdulaziz bin Salman, Saudi Arabia's new energy minister and a long-time member of the Saudi delegation to the Organization of the Petroleum Exporting...

  • The speaker was Jeremy Corbyn, then a backbench Member of Parliament on the hard left of the Labour Party. In a backbench career spanning more than three decades, Corbyn voted against his own Labour Party over 400 times. He became Labour Party leader in 2015..

  • ABU DHABI, Sept 8- United Arab Emirates' Minister of Energy and Industry Suhail al-Mazrouei said on Sunday that OPEC and non- OPEC producers are "committed" to achieving oil market balance. Saudi Arabia and Russia are members of the JMMC, which includes other major oil producers who took part in a global supply pact last year, including Iraq, the United Arab Emirates,...

  • A worker walks at Nahr Bin Umar oil field, north of Basra, Iraq.

    Iraq, OPEC's second-largest oil producer, needs the increased revenues after years of war. OPEC wants it to get with the cutting program.

  • FRANKFURT/ BERLIN, Sept 5- Private equity firm KKR is preparing for a stock market flotation or sale of German defense supplier Hensoldt in a potential 2 billion euro deal, people close to the matter said. The investor bought Airbus's defense electronics business for 1.1 billion euros in 2016 and later rebranded it Hensoldt, naming it after a 19th century German...

  • *China faces growing criticism over treatment of Uighurs. But China has also prioritised tracking the movements of ethnic Uighurs, a minority mostly Muslim group considered a security threat by Beijing. China is facing growing international criticism over its treatment of Uighurs in Xinjiang.

  • *China faces growing criticism over treatment of Uighurs. But China has also prioritized tracking the movements of ethnic Uighurs, a minority mostly Muslim group considered a security threat by Beijing. China is facing growing international criticism over its treatment of Uighurs in Xinjiang.

  • DUBAI, Sept 5- Syria's wheat and barley crops this year improved helped by favourable rainfall and better overall security but food security remains a challenge, a joint report by the United Nations Food and Agriculture Organization and the World Food Programme said on Thursday. "It is an improvement but a lot remains to be done... it is still 50% less than the...

  • A U.K.-flagged tanker, Stena Impero, was seized and detained by the Iranian Revolutionary Guard between July 19 and July 21, 2019 in the Strait of Hormuz.

    The drones will help with overhead surveillance as British warships escort U.K.-flagged tankers through the Strait of Hormuz, reported Sky News.