OPEC

(Reuters) – Iraq’s Prime Minister Ali al-Zaidi said on Tuesday that Iraq needed a fair share within OPEC after he was asked by reporters whether he was considering leaving the oil producer group. Zaidi is on a trip to Washington as he aims to secure major U.S. investment in his country’s oil, gas, and power …

Iraq Needs a Fair Share Within OPEC, Says Prime Minister Read More »

(Reuters) – Iraq will not leave OPEC, but is seeking a fair output quota within the oil producer group, Iraqi Prime Minister Ali al-Zaidi said in an interview with Saudi-owned Al Arabiya TV, according to his office. Reuters reported in an exclusive in June that Iraq, the group’s second-largest producer after Saudi Arabia and one …

Iraq Will Not Leave OPEC But Seeks Fair Output Quota, PM Says Read More »

(Reuters) – The United Arab Emirates has fired the opening shot in what is fast becoming a fierce battle among Middle East oil producers to reclaim market share after the Iran war, a contest that threatens to weaken oil prices and further erode OPEC’s authority. Gulf producers, desperate for revenue to replenish state coffers depleted …

OPEC is Likely Loser in Gulf’s Post-War Race for Market Share: Bousso Read More »

Summary OPEC+ to raise production by 188,000 bpd from August Gulf exports rise but still below pre-war levels Oil prices fall to pre-war levels on glut fears Iraq presses OPEC+ for higher quota after UAE exit (Reuters) – OPEC+ has agreed a further increase in output targets from August, the group said in a statement …

OPEC+ Approves Further Oil Output Increase as Hormuz Exports Start to Recover Read More »

(Reuters) – An economic crisis caused by the Iran war and a fresh surge of investment by oil majors are driving Iraq’s aggressive push for a higher OPEC production quota, potentially placing it on a collision course with the producer bloc. The pressure from Baghdad adds to the challenges confronting the Organization of the Petroleum …

Iraq’s Push for Bigger OPEC Quota Driven by Revenue Pressures, New Oil Investment Read More »

(Reuters) – Iraq’s oil ministry said on Thursday that reports suggesting Baghdad was considering ending its membership in OPEC did not reflect the Iraqi government’s official position. The ministry added that Iraq continued to stress the importance of reviewing oil production quotas to ensure they are aligned with member states’ sustainable production capacities. Reporting by …

Iraq Says Reports of Possible OPEC Exit Do Not Reflect Official Position Read More »

Summary Iraq is OPEC’s second-largest producer Iraq’s economy under strain after Hormuz disruption Iraqi exit would be a blow to the oil exporters’ group OPEC was founded in the Iraqi capital Baghdad BAGHDAD, June 25 (Reuters) – Iraq has considered leaving OPEC if the oil producer group does not allow Baghdad to ​significantly increase oil …

Iraq Warns it Might Leave OPEC if Oil Quota Not Raised Read More »

  OPEC Sees No Peak Oil Demand as Energy Security Beats Climate OPEC forecasts “robust growth” in global oil demand, with demand projected to rise to 113.3 million barrels a day in 2030 and 124.1 million barrels a day by 2050. The largest increments of oil demand growth will come from Asia, the Middle East, …

OPEC Sees No Peak Oil Demand as Energy Security Beats Climate Read More »