Al-Sudani: Iraq Is An Oil And Industrial Country That Has The Potential To Export Products To The Region
Energy and Business 2025-05-14 Shafaq News/ Prime Minister Mohammed Shia al- Sudani described Iraq on Wednesday as an “industrial country,” not just an oil country, and that
it can meet the needs of the local market and countries in the region.
This came in a speech delivered via video link during the inauguration of the steel plant at the General Company for Iron and Steel in Basra Governorate, with a capacity of 600,000 tons annually.
He also launched the implementation work for the industrial city in Al-Zubair District, and the Basra Chlorine and Caustic Soda Production Plant Project. Al-Sudani said in his speech,
“Iraq, in addition to being an oil-producing country, is an industrial country
that possesses all the ingredients for the emergence of a national industry that meets the needs of the local market.
We have qualified to become a country that exports products to the rest of the countries in the region.” https://shafaq.com/ar/اقتصـاد/السوداني-العراق-بلد-نفطي-و-صناعي-تتوفر-فيه-مقومات-تصدير-المنتجات-الى-المنطقة
Iraqi Oil Prices Saw A Slight Decline During Today’s Trading
economy | 09:20 – 05/14/2025 Mawazine News – Follow-up Iraqi oil prices recorded a slight decline during daily trading on Wednesday in the global market.
According to data reviewed by Mawazine News, Basra Medium crude oil recorded $65.49 per barrel, while heavy crude recorded $62.34 per barrel, with a change rate of -0.51% for both.
The data also showed a slight increase in global oil prices, with British Brent crude recording $66.25 per barrel, while US West Texas Intermediate crude oil recorded $63.34 per barrel, with a change rate of +0.33% for both. https://www.mawazin.net/Details.aspx?jimare=261410
Gold Declines As US-China Trade Tensions Easethings are moving better now
economy | 12:00 – 05/14/2025 Mawazine News – Follow-up: Gold prices fell on Wednesday, as safe-haven assets declined amid easing trade tensions between the United States and China, while markets awaited a fresh batch of inflation data for clues on the path of the Federal Reserve’s monetary policy.
Spot gold fell 0.7% to $3,226.11 per ounce, while U.S. gold futures fell 0.6% to $3,229.50, according to Reuters.
“Positive developments in U.S. trade policy are reducing gold’s appeal in the short term,” said Kyle Rodda, a financial markets analyst at Capital.com .
“I believe that if progress in trade negotiations and deals between the United States and its trading partners continues, we could see further declines in gold prices. The $3,200 level is a critical support level.”
As for other precious metals, spot silver fell 0.8% to $32.61 per ounce, platinum held steady at $988.65, and palladium fell 0.9% to $948.60. https://www.mawazin.net/Details.aspx?jimare=261421
A Slight Rise In The Dollar Price In Baghdad And Erbil
economy | 04:34 – 05/14/2025 Mawazine News – Baghdad – The exchange rate of the US dollar against the Iraqi dinar witnessed a slight increase in the markets of Baghdad and Erbil on Wednesday.
It rose with the closing of the two main stock exchanges, Al-Kifah and Al-Harithiya, in Baghdad, recording 142,500 dinars for every $100, while this morning it recorded 142,350 dinars for every $100.
Selling prices also rose in exchange shops in the local markets in Baghdad, where the selling price reached 143,500 dinars for every $100, while the buying price reached 141,500 dinars for every $100.
In Erbil, the dollar also rose, with the selling price reaching 142,400 dinars for every $100, and the buying price reaching 142,200 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=261434
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