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Oil Prices Drop 8% as OPEC Supply Plans Threaten Market Balance

Oil prices fell sharply in oil market this week as expectations of higher OPEC+ production fueled concerns about oversupply. Brent crude closed at $64.53...

Basrah crude prices drop despite global rise

Basrah crude prices fell, sharply diverging from the upward trend in global benchmarks. The decline underscored ongoing challenges for Iraq’s vital oil exports, even...

Iraq, Turkey Discuss Oil Agreement and Refineries

Turkey proposed a new oil agreement with Iraq. The plan could expand refinery projects in northern Iraq. The draft includes four refineries with limited...

Iraq Basrah Crude Prices Fall as Global Oil Holds Steady

Iraq Basrah crude prices fell even as global oil markets showed signs of stability. Traders in the region monitored changing supply and demand while...

Iraq renewable energy plan to save oil

Iraq has launched an important move to expand renewable energy. Officials confirmed that the country spends about 250,000 barrels of oil every day for...

Iraq’s August Oil Revenues Surpass $7 Billion with 105 Million Barrels Exported

Iraq recorded strong oil revenues in August 2025 as crude exports reached nearly 105 million barrels, generating more than $7.16 billion for the state. The Ministry of...

Iraq-Turkey Pipeline to Boost Oil Revenue

Iraq has restarted crude exports through the Iraq-Turkey pipeline after more than two years of suspension. Oil Minister Hayan Abdul Ghani confirmed the move on...

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