Iraq Is Second… 29 Million Barrels Of Oil Imported By America From OPEC
Energy Economy News – Follow-up The U.S. Energy Information Administration revealed on Thursday that the United States imported more than 20 million barrels of oil from OPEC countries in July, with Iraq being the second largest exporter among these countries. According to statistics from the administration, the volume of US crude oil imports reached 29.933 million barrels in July 2025.
It indicated that Iraq came second among OPEC countries in terms of oil exports, with a quantity of 9.825 million barrels, while Saudi Arabia came first with exports of 9.996 million barrels, followed by Nigeria in third place with 3.768 million barrels.
Algeria came in fourth with 2.112 million barrels, followed by Libya with 2.011 million barrels, Gabon with 678,000 barrels, Kuwait with 650,000 barrels, and then Venezuela in eighth place with 175,000 barrels.
The administration noted that the remaining member states, Congo, Iran and the United Arab Emirates, did not export any oil to America in July. https://economy-news.net/content.php?id=61758
Government Advisor: Adopting A Loan Default Insurance Policy Represents A Qualitative Shift In The Lending Structure
Money and Business Economy News – Baghdad The Prime Minister’s financial advisor, Mazhar Muhammad Saleh, confirmed on Thursday that the Cabinet’s recent decision to adopt an insurance policy against default on payments instead of a guarantor for housing loans for employees represents a qualitative shift in the structure of bank lending towards enhancing financial inclusion and simplifying procedures.
Saleh said that “the Cabinet’s decision to adopt an insurance policy against default on payments instead of a guarantor in housing loans for employees whose salaries are deposited represents a qualitative shift in the structure of bank lending towards enhancing financial inclusion and simplifying the procedures addressed by the government program, and is an important aspect of the economic reform process in its financial and banking aspects.”
He added: “Therefore, adopting the insurance policy constitutes a double guarantee, as it gives the citizen ease in obtaining the loan without a guarantor, and at the same time provides banks with full protection from the risks of default, which speeds up the lending cycle and increases the efficiency of Iraq’s financial system.”
He pointed out that “this step will positively impact investment in the housing sector by increasing demand for housing units and stimulating the construction and building industries, which will contribute to reducing costs and prices as a result of expanding supply and growing competition.”
He explained that “the insurance policy will open up broad horizons for national insurance companies to achieve regular returns from insurance premiums, which will lead to a revival of the insurance business environment and an expansion of its products within the framework of developing the national financial market, and that such a transformation will establish an effective partnership or integration between the banking system and the insurance sector within what is known globally as (bancassurance).”
He added that “adopting the insurance policy instead of the guarantor is not just an administrative procedure, but a structural reform in the national financing system that supports the construction and housing sectors, stimulates the labor market, and at the same time lays the foundations for financial and economic integration that contributes to achieving the goals of sustainable development and is consistent with the principles and objectives of the National Development Plan 2024-2028.”
He noted that “the insurance policy referred to in the Cabinet’s decision is an insurance guarantee that covers the bank against the risk of the borrower not paying the loan installments for any reason (such as death, total disability, loss of employment, or any force majeure circumstances that prevent payment), but under this policy the borrower pays a simple insurance premium once or annually according to the insurance requirements, and in return the insurance company undertakes to pay the remaining amount of the loan to the bank in the event that the borrower defaults on payment for force majeure reasons, and coverage for the risks of payment continues throughout the entire loan term.” https://economy-news.net/content.php?id=61763
Global Oil Prices Decline
Economy | 08:05 – 30/10/2025 Mawazine News – Economy Brent crude futures fell three cents, or 0.05%, to $64.89 a barrel, while U.S. West Texas Intermediate crude futures slipped 11 cents, or 0.18%, to $60.37 a barrel.
https://www.mawazin.net/Details.aspx?jimare=269353
The Dollar Remained Stable At The Close Of Weekly Trading.
Economy | 11:21 – 30/10/2025 Mawazin News – Baghdad: The exchange rate of the US dollar against the Iraqi dinar has witnessed remarkable stability in local markets. The selling price reached 142,000 dinars per 100 dollars, while the buying price reached 140,000 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=269372
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