Iraq

This tag is associated with 74 posts

Oil Supply Glut Leads To Massive Tanker Traffic Jam: “Would Stretch For 25 Miles”

By Mac Slavo While oil prices have jumped about 50% in recent weeks, there appears to be no real reason for the move other than pure speculation and billion-dollar market cash infusions from unknown plunge protection teams. But as the mainstream media continues to tout non-existent reduction agreements between oil producing nations, the following evidence … Continue reading

Perfect Storm For Oil Started On Schedule And Continues To Build

By David Haggith, The Great Recession Blog The perfect storm I predicted against the price of oil in the Ides of March has not fully developed, but all the forces I spoke of are continuing to build. The balmy days that prevailed for oil prices in early March have gone away, replaced by a downdraft that is once again suppressing prices … Continue reading

The Empire Of The Petrodollar And The Price Of Refusing It

Ahead of the meeting of OPEC and non-OPEC oil producers scheduled for April 17 in Qatar in a bid to stabilize plummeting crude prices, let’s have a look at oil’s financial heart, the petrodollar system, and the unfortunate position of those member states who tried to break free of it. OPEC members and key oil … Continue reading

OPEC’s Doha Dilemma: 3MB/D U.S. Lock In?

By Eugen von Böhm-Bawerk Another month, another flight to Hamad international airport for 17th April after initial agreement to hold ‘upstream horses’ in February 2016. While it’s no doubt great fun getting back into the OPEC ‘masters of the oil universe’ routine, second time round, the stakes are rapidly rising in Doha given another supposed ‘freeze’ … Continue reading

The Militarization Of The Middle East In Numbers

By Jeff Desjardins, Visual Capitalist The global arms trade is huge. While it’s hard to pin down an exact value of arms transfers, the Stockholm International Peace Research Institute estimates that the number was at least $76 billion in 2013, with the caveat that it is likely higher. The volume of transfers have been trending upwards now … Continue reading

Why Saudi Arabia Will Keep Oil Prices Low: 3 Reasons

By Andrew Manners Despite a tentative agreement struck last week to freeze oil production, Saudi Arabia is likely to keep oil prices low for the foreseeable future. Last week Saudi Arabia, Venezuela, Qatar, and Russia reached an historic agreement to cap oil production at mid-January levels. The pact – the first between OPEC and a … Continue reading

Supply Problems In Iraq Boost Crude To $37

Oil prices rallied as OPEC crude output fell by 280,000 barrels per day (bpd) in February, according to a Reuters survey. The main reason is an involuntary disruption of supplies from a pipeline in Iraqi Kurdistan that was recently pumping about 600,000 bpd. The pipeline has been offline since February 17 and could stay closed … Continue reading

Erdoğan’s Neo-Ottoman Vision Meets Xi’s Silk Road Dream In The Middle East

By Christina Lin The ancient Silk Roads crossed Eurasia to link trade between China and its Greco-Roman trading partners until the Ottoman Empire cut it off in the 1400s.  With the newly revived One Belt, One Road (OBOR) Initiatives under Chinese President Xi Jinping, will it meet the same fate as Turkey’s President Erdogan asserts his … Continue reading

The Oil Showdown Is Approaching!

By Caleb Maupin The price of oil remains below $50 per barrel, the lowest since the 2009 financial crisis. Oil prices have stayed low throughout 2014 and 2015. The reason for the drop in oil prices is the massive increase in oil production. Iraqi oil fields are refining more oil than at any time since … Continue reading

Amid OPEC Price War, Saudi Arabia Slashes Oil Prices

Saudi Arabia has slashed prices on Sunday for its November oil sales to Asia and the U.S. as the largest crude exporter in the world looks to keep its prices competitive amid an OPEC (Organization of the Petroleum Exporting Countries) price war between rival Gulf suppliers. The move by Saudi Arabia comes as Iran, Iraq, and other Middle Eastern countries made … Continue reading

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