Amid Anticipation Of The OPEC+ Decision, Oil Is Heading For A Weekly Decline.
Economy | 05/30/2025 Mawazine News – Follow-up: Oil prices are heading for a weekly decline of more than 1% during Friday’s trading, amid volatility in court decisions regarding US tariffs and the market’s anticipation of a possible increase in OPEC+ production.
Brent crude futures fell 26 cents, or 0.41%, to $63.89 a barrel by 0104 GMT. Brent July futures expire on Friday. US West Texas Intermediate crude fell 27 cents, or 0.44%, to $60.67 a barrel, according to Reuters data.
A US federal appeals court temporarily restored President Donald Trump’s tariffs on Thursday, overturning a trade court’s decision on Wednesday that had suspended their implementation.
The decision caused oil prices to fall by more than 1% on Thursday as traders assessed its impact. Analysts said uncertainty would continue as the court battles over the tariffs continue.
The OPEC+ alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies, is expected to decide to increase oil production in July when it meets on Saturday.
OPEC is also seeking to ensure that some countries, such as Kazakhstan, reduce their production, which exceeds agreed-upon levels. https://www.mawazin.net/Details.aspx?jimare=262038
Find Out The Quantities Of Iraqi Oil Exports In The First Third Of 2025.
Economy | 01:01 – 05/29/2025 Mawazine News – Baghdad – The Iraqi Oil Marketing Company (SOMO) revealed on Thursday that the country’s crude oil exports during the first third of the current year exceeded four million barrels.
According to SOMO statistics reviewed by Mawazine News, “Iraq’s total oil exports during the first four months of the current year amounted to 406,062,835 barrels, at a rate of 101,515,713 barrels per month.”
The statistics showed that “the total exported from Basra and central fields through Iraqi ports amounted to 392,178,537 barrels, while the total exported from Qayyarah field in Kirkuk amounted to 3,789,906 barrels.”
They also indicated that “oil exports from the modern Kirkuk depot to Jordan during this period amounted to 1,339,410 barrels.”
According to its statistics, SOMO stated that “financial revenues from exports for the past two months of March and April amounted to $14 billion, 454 million, 815 thousand, and 947.” https://www.mawazin.net/Details.aspx?jimare=262008
Iraq Stock Exchange Indices Rose During The Fourth Week Of May
Economy | 03:57 – 05/29/2025 Mawazine News – Baghdad – The Iraq Stock Exchange announced, on Thursday, the weekly trading indicators for the fourth week of May 2025, indicating a rise in the two main trading indicators and a noticeable activity in the trading volume.
The market stated in a statement received by Mawazine News that it “organized five trading sessions during the week extending from Sunday (May 25) to Thursday (May 29), indicating that the number of traded shares exceeded 6 billion shares, while the value of trading amounted to more than 11 billion Iraqi dinars.”
It added that “the general trading index (ISX60) opened the first session of the week at (1002.79) points, to close at the end of the week at (1017.58) points, recording an increase of (1.45%). The (ISX15) index also recorded an increase of (1.90%), as it rose from (1123.69) points at the beginning of the week to (1145.42) points at the end.”
The statement indicated that “(3,894) buy and sell contracts were executed on shares of companies listed on the market during the week’s sessions, which reflects a noticeable activity in trading and market movement.” https://www.mawazin.net/Details.aspx?jimare=262019
Gold Prices Rise As Investors Buy
Thursday, May 29, 2025, | Economic Number of reads: 298 Baghdad / NINA / Gold prices rose on Thursday, as investors rushed to buy after the decline in the yellow metal’s prices. Gold futures for August (Comex) rose by 0.46% to $3,343.50 per ounce.
Spot contracts for the yellow metal rose by 0.65% to $3,322.36 per ounce, according to trading data. / End https://ninanews.com/Website/News/Details?key=1229635
The Dollar Exchange Rate Rose Against The Dinar In Local Markets
Thursday, May 29, 2025 | Economic Number of reads: 233 Baghdad / NINA / The dollar prices rose in the markets of Baghdad and Erbil, on Thursday, with the closing of the stock exchange at the end of this week.
The dollar prices witnessed a rise with the closing of the Al-Kifah and Al-Harithiya stock exchanges, recording 141,200 dinars for every $100, while this morning it recorded 140,800 dinars for every $100.
The selling prices in the exchange sector in the local markets in Baghdad recorded an increase, as the selling price reached 142,250 dinars for every $100, while the purchase price reached 140,250 dinars for every $100.
In Erbil, the dollar also recorded an increase, as the selling price reached 141,350 dinars for every $100, and the purchase price reached 141,200 dinars for every $100. /End https://ninanews.com/Website/News/Details?key=1229679
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