Iraq urges Opec to raise its quota

Could Iraq Quit OPEC if Production Quota Dispute Escalates?

Iraq is considering all available options, including a potential exit from OPEC, if the producer group does not significantly increase its oil production quota, according to sources familiar with Iraqi oil policy. The warning comes as Iraq faces mounting economic pressure following the Iran war and seeks to boost oil revenues to support its finances. [] The post Could Iraq Quit OPEC if Production Quota Dispute Escalates? appeared first on Modern Diplomacy.

Iraq, OPEC Begin Gradual Restoration of Oil Production Quotas

Iraq’s Ministry of Oil stated that the Organization of the Petroleum Exporting Countries (OPEC) and its allies have begun gradually restoring Iraq’s production quotas, particularly the voluntary cuts, as part of efforts to increase the country’s production capacity over the coming months, according to Iraq News Agency (INA). Ministry spokesperson Salim al-Rikabi denied reports that [] The post Iraq, OPEC Begin Gradual Restoration of Oil Production Quotas first appeared on Egypt Oil Gas.

Iraq threatens to leave OPEC if oil quota isn’t raised: Report

Iraq, the second-biggest producer in OPEC, reportedly threatened to leave the cartel if the oil quota isn’t significantly raised. The threats came shortly after the United Arab Emirates left the organization last month, saying that it wanted to boost its oil output. Iraq’s already struggling economy has borne through months of crisis, and a senior []

Iraq Seeks Higher Oil Allowance as OPEC Membership Rankles

Iraq stepped up its push for bigger OPEC production quotas as it seeks to recoup oil sales that were lost because of the Iran war, even raising the prospect that it could consider an exit in the future.

OPEC+ countries’ quota to increase by more than 1 mbd in July

In light of this, the oil production limit for OPEC+ states stands at 30.633 mbd in July, compared to 29.548 mbd in Jun

FG mounts pressure on marketers to cut petrol price

By Obas Esiedesa, Abuja The Federal Government on Monday mounted fresh pressure on petroleum marketers to reduce the pump price of Premium Motor Spirit also known as petrol, insisting that the sharp decline in international crude oil prices should be reflected in retail fuel prices across the country. Speaking at the Stakeholders’ Meeting on Cost-Reflective [] The post FG mounts pressure on marketers to cut petrol price appeared first on Vanguard News.

World : Iraq Not Planning To Leave Opec, Hopes For Fair Production Quota – Prime Minister

MOSCOW, July 9 (Bernama-Sputnik/RIA Novosti) -- Iraq does not plan to leave OPEC but expects a fair production quota, Prime Minister Ali Al-Zaidi said on Thursday.

Kuwait calls for coordination as oil output hiked

BERLIN: Seven OPEC+ members decided on Sunday to again raise oil production quotas amid the fallout from the Middle East war. Ministers from key OPEC+ countries Saudi Arabia, Russi...

Iraq seeks reassessment of OPEC production quotas

Iraq seeks reassessment of OPEC production quotas

Harga minyak kukuh, Petronas perlu percepat pelaburan

PETALING JAYA: Harga minyak yang lebih kukuh kini menjadi pemangkin utama kepada Petroliam Nasional Berhad (Petronas) untuk menggerakkan semula pelaburan sektor huluan yang sebelum ini ditangguhkan, sekali gus mengurangkan justifikasi syarikat untuk terus mengambil pendekatan berhati-hati terhadap perbelanjaan modal. Menurut CIMB Securities Sdn. Bhd., gabungan harga minyak yang tinggi, aliran tunai yang lebih mantap serta ... Read more The post Harga minyak kukuh, Petronas perlu percepat pelaburan appeared first on Utusan Malaysia.

U.S. April Oil Production: Another Record High

U.S. April Oil Production: Another Record High

Following the UAE’s Lead, Iraq Warns It Could Leave OPEC. Here’s What That Would Mean for Oil Stocks

Iraq wants to pump more oil in the future.

OPEC+ companies slightly boosting production as oil prices slide

A group of oil-exporting countries has agreed to a modest increase in oil production, though current prices are already relatively low. Seven OPEC+ nations have said they will increase their production goals by 188,000 barrels per day. The participating countries are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. Multiple nations in the Middle...

OPEC+ agrees to higher oil production ‘to support oil market stability’

After the Iran war choked off about a fifth of the world's oil supply for several months, the world's largest alliance of oil-producing nations agreed to increase its quota.

Hormuz: China Oil Demand Tapped out, Heavy Truck EVs Rise

If the country stops needing to use diesel for trucks, that is game over for petroleum

OPEC+ Approves Fresh Oil Output Increase for August

The OPEC+ alliance agreed to increase oil production quotas once again, approving a collective output hike of 188,000 barrels per day (bpd) starting in August as the group continues its measured strategy of restoring supply to the global market.

How a war between Israel and Arab nations more than 50 years ago had pushed Brazil to blend Ethanol with Petrol, with India and others getting inspired

India’s mandatory shift to E20 petrol has sparked debate over vehicle mileage and engine safety. While car owners express concern, the government defends the rollout as a highly strategic, decades-old national policy modeled after Brazil to slash oil imports and boost rural economies.

After UAE and Qatar, could Iraq be next to leave OPEC?

Iraq is seeking a higher production quota as the effective closure of the Strait of Hormuz has slashed oil revenues and plunged the country into a fiscal crisis.

Muslim group urges Nigerian Govt to force fuel price down below N700 per litre

The Muslim Media Watch Group of Nigeria, MMWG, has called on the Federal Government to compel petroleum marketers to reduce fuel prices, arguing there is “no basis” to keep petrol above N1,000 per litre now that global oil prices have dropped to pre-war levels. In a statement issued on Friday and signed by its National Coordinator, Alhaji [] Muslim group urges Nigerian Govt to force fuel price down below N700 per litre

OPEC+ agrees to raise oil output targets for August

London, July 5 (SANA) OPEC+ agreed on Sunday to increase crude oil production targets for August, according to a statement issued after a meeting of the alliance. The group agreed to raise production quotas by 188,000 barrels per day (bpd) in August, continuing a series of increases approved for June and July. Seven key OPEC+ []

Inventory Replenishment Could Fuel The Next Major CrudeOil Bull Market

The global oil market may be entering a new phase where the primary price driver is not supply disruption, but the urgent need to rebuild depleted strategic and commercial inventories. Governments, refiners, and traders around the world face mounting pressure to replenish oil stocks that were drawn down during a period of sustained emergency releases [] The post Inventory Replenishment Could Fuel The Next Major CrudeOil Bull Market appeared first on Foreign Policy Journal.

कच्चा तेलको मूल्यमा ५% को उछाल

काठमाडौँ ।अमेरिकी राष्ट्रपति डोनाल्ड ट्रम्पले इरानसँगको युद्धविराम समाप्त भएको संकेत दिएपछि अन्तर्राष्ट्रिय बजारमा कच्चा तेलको मूल्य उल्लेख्य रूपमा बढेको छ। ट्रम्पको अभिव्यक्तिपछि ब्रेन्ट र डब्लूटीआई दुवै क्रुड तेलको मूल्य करिब ५ प्रतिशतले उकालो लागेको हो। अन्तर्राष्ट्रिय बजारमा ब्रेन्ट क्रुडको मूल्य ५.१० प्रतिशत अर्थात् ३.७८ अमेरिकी डलरले बढेर प्रतिब्यारेल ७७.९४ डलर पुगेको छ। त्यस्तै, डब्लूटीआई क्रुड []

Iraq Warns It May Reconsider OPEC Membership Without Higher Output Quota

Iraq says it may reconsider OPEC membership if the group fails to approve a significant increase in its oil quota.

‘It feels like, as a country, we’ve shot ourselves in the foot with Brexit’

While some industries are still counting the cost, others are blossoming. We spoke to some of Brexit’s winners and losers The post ‘It feels like, as a country, we’ve shot ourselves in the foot with Brexit’ appeared first on Big Issue.

Iraq's Oil Ministry denies PM discussed OPEC exit

Iraq's Oil Ministry denies PM discussed OPEC exit

U.S.-Iran strikes ratchet up tensions as Tehran says Hormuz is shut

Control of the waterway — through which a fifth of the world’s crude oil and liquefied natural gas once moved — has been central to negotiations

OPEC+ increasing output as oil prices continue to fall

OPEC+ has agreed to a further increase in output targets from August, the group said in a statement on Sunday, adding to global supply at a time when oil prices are falling amid the gradual reopening of the Strait of Hormuz for oil exports. The oil-producing group agreed during an online meeting to increase quotas []...Click to read more

Iraq rethinking its OPEC membership due to oil production limits

ALBAWABA - In a Reuters exclusive report: Iraq, one of the founding members of OPEC, is now considering leaving the organization after Strait of Hormuz disruptions and limited oil production quotes hit the county hard...

OPEC+ raises output as oil market enters new geopolitical era

The shifting tides of the global energy market have once again thrust OPEC+ into the spotlight, laying bare the delicate and often volatile intersection of geopolitics and oil economics. The group’s recent decision to boost oil production targets for August by 188,000 barrels per day is on the surface a standard regulatory tweak meant to stabilize a fluctuating market.

OPEC+ approves modest August production increase amid price slide

NEW YORK CITY, New York: Seven members of the OPEC+ alliance have agreed to modestly increase oil production in August, extending a series of monthly output hikes as crude prices continue to fall from highs reached during the recent conflict involving Iran. The Organization of the Petroleum Exporting Countries and its allies said on July 5 that Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman wou

Bitcoin under pressure as U.S.-Iran escalation lifts oil

Bitcoin under pressure as U.S.-Iran escalation lifts oil

Seven OPEC+ countries agree to increase monthly oil production; here's the reason behind key decision

The OPEC+ alliance has decided to raise oil production once again, announcing a modest increase in output for August as global crude prices continue to decline following the easing of tensions in the Middle East. The move marks the fifth straight monthly production hike by the oil-producing bloc. The Organisation of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, said on Sunday that seven member countries would jointly increase production by 188,000 barrels per day next month.