Iraq Economic News and Points To Ponder Late Thursday Evening 6-1-24


Iraq Economic News and Points To Ponder Late Thursday Evening 6-1-24

Chairman Of The Parliamentary Security Committee: The Security Council’s Decision To Withdraw The UN Representative Restored Iraq’s Sovereignty

Saturday 01, June 2024 | Political Number of readings: 128  Baghdad / NINA / Chairman of the Security and Defense Committee, Karim Aliwi Al-Muhammadawi, confirmed the ability of the Iraqi security forces to protect the homeland’s lands and the country’s sovereignty.

Al-Muhammadawi welcomed in a statement: “The UN Security Council’s decision to withdraw the United Nations representative from Iraq and considered it a successful decision and evidence of the modern state’s policy for Iraq, after it convinced the international parties of the necessity of Iraq restoring its sovereignty once again.”

He added: “Iraq is capable of protecting itself and that its security services are on standby to protect the nation’s wall internally and externally from any international or terrorist movement or attack.”/

Oil Prices Suffer A Weekly Loss Ahead Of The OPEC+ Meeting

Money  and business   Economy News – follow up  Oil prices fell yesterday, Friday, and recorded a weekly loss, as investors focused on the OPEC+ meeting scheduled for Sunday to decide on the alliance’s production levels.

Brent crude futures for July delivery fell 24 cents, or 0.3%, to $81.62 a barrel, while August futures fell 77 cents, or 0.8%, to $81.11.

US West Texas Intermediate crude futures fell 92 cents, or 1.2%, to $76.99, according to Reuters.

Brent crude fell 0.6% over the week, while West Texas Intermediate crude lost 1%.

Markets are awaiting the OPEC+ alliance meeting scheduled to be held on Sunday, as sources told Reuters that the OPEC+ alliance is working on drafting a complex agreement that would allow some of the sharp cuts in oil production to be extended until 2025.

Data from the US Energy Information Administration showed on Friday that US crude oil production rose in March to its highest level this year, while production of fuel products, an indicator of demand, fell 0.4% to 19.9 million barrels per day.

The oil market has been under pressure in the past few weeks due to the possibility that borrowing costs will remain high for a longer period in the United States, which could harm crude oil consumption.

The two benchmark crude oils were heading towards their largest monthly decline since December, after falling in the previous session due to a sudden increase in US fuel inventories.Views 84 06/01/2024 –

Learn About The Dollar Exchange Rates In Local Markets

Local |  06/01/2024  Baghdad – Mawazine News  The exchange rates of the dollar rose today, Saturday, in local markets.

Dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 145,300 Iraqi dinars for every 100 dollars, while last Thursday prices recorded 145,150 Iraqi dinars for every 100 dollars.

Selling prices in banking shops in local markets in Baghdad stabilized, with the selling price reaching 146,250 dinars, while the purchasing price reached 144,250 dinars for every 100 dollars.

As for Erbil, the stock market does not trade on official holidays, but the dollar recorded stability in banking shops, as the selling price reached 145,000 dinars against the dollar, and the purchase price reached 144,900 dinars against 100 dollars.

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Provoking Thoughts and Points To Ponder on Failures and Mistakes

Apparent failure may hold in its rough shell the germs of a success that will blossom in time, and bear fruit throughout eternity.- Frances Ellen Watkins Harper

The causes of mistakes are “I didn’t know”; “I didn’t think”; and “I didn’t care.”- Henry H. Buckley

Failures are divided into two classes: those who thought and never did, and those who did and never thought.- John Charles Salak

A failure establishes only this, that our determination to succeed was not strong enough.- Christian Bovee

Self-distrust is the cause of most of our failures. They are the weakest, however strong, who have no faith in themselves or their own powers.- Christian Bovee

Defeat is a thing of weariness, of incoherence, of boredom.- Antoine de Saint-Exupery