Oil Prices Rise Amid Strong Market Fundamentals and Supply Disruption Concerns, 14 nov

 Oil Prices Rise Amid Strong Market Fundamentals and Supply Disruption Concerns

The world has witnessed a surge in oil prices in the wake of a report issued by the Organization of Petroleum Exporting Countries (OPEC). The report firmly asserted the robustness of market fundamentals, sparking a rise in the futures contracts for Brent and West Texas Intermediate crude oil. Furthermore, it provoked concerns over potential disruptions in supply due to American pressures on Russian oil exports.

Unwavering Market Fundamentals

According to OPEC, the recent drop in oil prices can be attributed to speculators rather than any inherent weakness in the market. OPEC has emphasized the continued strength of oil market fundamentals, arguing that the market concerns about a potential decline in global demand were overly pessimistic.

OPEC’s Forecast on Global Oil Demand

In its report, OPEC has slightly raised its expectations for global oil demand for 2023 while maintaining a relatively high outlook for 2024. This indicates that OPEC foresees a steady demand for oil in the coming years, suggesting a sustained recovery from the pandemic-induced downturn.

A Potential Setback for the Market

Simultaneously, the report also pointed out that the resumption of talks in Iraq to reactivate an oil pipeline could pose a challenge to the market, potentially leading to increased supply and downward pressure on prices. This highlights the intricate balance that shapes the global oil market and the myriad factors that can influence its dynamics.

https://bnn.network/world/iraq/oil-prices-rise-amid-strong-market-fundamentals-and-supply-disruption-concerns/

BREAKING NEWS BRICS Proposes New Internet Order #iqd Rate BY SANDY INGRAM

"RV UPDATE" BY NADER FROM MID EAST & YADA, 14 NOV

 Nader From The Mid East 

 Article quote:  "The governor of the Central Bank, Al-Alaq failed to control the rise in the dollar exchange rate." 

Don't panic.  Alaq has nothing to do with what's going on.  He's not doing a very good job.  He's a very good guy, hard worker, doing whatever he can but I think this job is too big for him to handle...

I would not be surprised if he got fired.  I would not be sad either...He can not handle the job.  He should do something else...He's not good at controlling things.  He can't control the CBI.  It's too big for him...I'm not saying they're going to fire him, maybe not.  Maybe he's going to get his shit together and do a better job but don't panic.  This has nothing to do with what's going on.

 yada  

   Review from the articles... The PM announced the banks are now able to exchange foreign in country last week. The digital connections have been activated to collect the tariffs and taxes from all border crossings Monday last week. Their stock mark showed a 3000 point drop in dinars this past Sunday. To me, the dollar to dinar value is adjusting to the actual reissued value of the dinar. 10 days or so, 12 countries did currency swaps with Iraq.  

Contracts that were previously agreed upon are being signed from countries coming into Iraq to do business. TOTAL being one of the largest and along with the infrastructure contracts. All this requiring a new REISSUED rate. IMO, they've gone a far as they can go without not changing the rate...

...we are witnessing the process playing out before us. It means the checks and balance were put in place by the stopping of the launding the dollar causing the decline of the use of the dollar in country. The seed was placed in the ground with all the regulations and the growth started and now, it is braking the surface such we will benefit from it...Articles have revealed it will not be in vain and the change over is taking place...NOW!

Iraq’s Political Landscape Shifts as Ministers Resign Following Speaker’s Dismissal, 14 NOV

 Iraq’s Political Landscape Shifts as Ministers Resign Following Speaker’s Dismissal

In an unprecedented political shakeup, three ministers backed by the Taqaddum party, a group with ties to Iraq’s House Speaker Mohammed Halbousi, have tendered their resignations from the Iraqi government. This startling move comes in the wake of the Federal Supreme Court’s decision to remove Halbousi as Speaker of Iraq’s Parliament on grounds of forgery charges, a ruling that is final and non-appealable.

Ripples of Political Shakeup

The court’s decision has not only stripped Mohammed Al Halbousi of his prominent role but also removed Mr. Al Dulaimi as a member of parliament. The finality of the ruling, which cannot be appealed, means the parliament faces the imminent task of electing a new speaker. This upheaval has significant implications for Iraq’s political landscape and is predicted to cause ripples in the upcoming provincial elections, scheduled for December 18.

The Dispute’s Background

Behind the court’s decision lies a dispute between al-Halbousi and al-Dulaimi, with al-Halbousi branding the court’s ruling as ‘strange’. However, the court’s decision stands, marking a significant turn of events in Iraq’s political sphere. The departure of three Taqaddum party-backed ministers from the government underlines the far-reaching impacts of this ruling.

Future Implications

The court’s dismissal of both Mohammed al-Halbousi and Laith al-Dulaimi, with no details announced, signals a shift in Iraq’s political dynamics. With the ruling being final and non-appealable, the immediate task ahead for the parliament is to elect a new speaker, a move that will undoubtedly shape Iraq’s future political trajectory. The forthcoming provincial elections will provide a crucial test for the country’s political stability in the aftermath of this ruling.

https://bnn.network/politics/iraqs-political-landscape-shifts-as-ministers-resign-following-speakers-dismissal/

After the decisions of the Riyadh Summit, Iraq is considering reducing its oil production by one million barrels to stop the aggression against Gaza, 14 NOV

 After the decisions of the Riyadh Summit, Iraq is considering reducing its oil production by one million barrels to stop the aggression against Gaza

Iraqi oilAn Iraqi government source revealed on Sunday that the government is holding discussions to reduce Iraq’s oil production after the decisions of the Arab-Islamic Summit on Gaza.

The source said, “Prime Minister Muhammad Shiaa Al-Sudani met yesterday, Saturday, with the Minister of Oil and his energy and economic advisors to discuss making a decision to reduce oil exports by one million barrels per day from the allocated export quota.”

He added, “This decision may be taken due to the Arab-Islamic summit not reaching effective decisions to stop the fire in Gaza.”

almawrid.news

CBI & US Fed Reserve Intensive Meeting💣VND News!🤔Iraq Dinar RV Updates |...

Parliamentary Finance reveals to “Al-Ma’louma” the details of the discussions between Iraq and America regarding the dollar, 14 NOV

 Parliamentary Finance reveals to “Al-Ma’louma” the details of the discussions between Iraq and America regarding the dollar, 14 NOV

Parliamentary Finance reveals to Al-Ma’louma the details of the discussions between Iraq and America regarding the dollarInformation / Baghdad..

Today, Monday, the Parliamentary Finance Committee revealed the details of the discussions between Iraq and America regarding the price of the dollar against the dinar, while indicating that the Central Bank of Iraq has developed solutions to control the continuous rise in exchange rates.

A member of the Finance Committee, Moeen Al-Kazemi, said in an interview with Al-Maalomah, that “the Central Bank is making intensive efforts through its discussions with the US Federal Reserve to ease restrictions on Iraqi banks, as well as developing practical solutions to liberalize the Iraqi currency by opening outlets in most countries of the world for dealing.” In various foreign currencies instead of the dollar.

He added, “The restrictions imposed by the US Federal Reserve and the failure to release Iraqi funds in dollars are behind political reasons for the purpose of its dominance over countries of the world, including Iraq.”

He pointed out that “Iraq receives approximately $10 billion monthly from selling oil, but it is deposited in the US Federal Reserve, which is constantly trying to obstruct its release.”

Al-Kadhimi continued, “The Central Bank has taken new measures by opening multiple outlets in countries around the world that deal in the currencies of the Chinese yuan, the Indian rupee, the European euro, and the Emirati dirham.”

It is noteworthy that the US sanctions are raising a wave of concern among the Iraqis, especially since all government and central bank measures have not succeeded in bringing the parallel exchange rate closer to the official rate.

almaalomah.me