Iraq Exports 5 Million Barrels Of Oil To The US In A Month
Energy Economy News – Baghdad The U.S. Energy Information Administration announced on Tuesday that Iraq’s oil exports to the United States exceeded 5 million barrels during March.
The administration stated in a table seen by Al-Eqtisad News that “Iraq exported 5.487 million barrels of crude oil to the United States during the month of March, an increase from 4.900 million barrels in February.”
She added, “Iraq exported an average of 170,000 barrels per day of crude oil to the United States during the first week of March, an average of 202,000 barrels per day in the second week, an average of 203,000 barrels per day in the third week, and an average of 132,000 barrels per day in the third week.”
The US Energy Information Administration stated that “Iraq ranked seventh in its exports to the US last month, after Canada, which ranked first as the largest oil exporter to the US, followed by Mexico, Saudi Arabia, Brazil, Venezuela, and Colombia.”
The administration noted that “Iraq came in second place among Arab countries exporting the most oil to America, after Saudi Arabia, which came in first with exports of 6.696 million barrels, and Libya came in third with exports of 1.829 million barrels.” https://economy-news.net/content.php?id=54227
A New Rise In The Dollar Exchange Rate Against The Dinar In Baghdad
Stock Exchange Economy News – Baghdad The dollar exchange rate rose against the dinar on Tuesday in Baghdad markets.
The dollar exchange rate rose on the Al-Kifah and Al-Harithiya stock exchanges, reaching 147,800 dinars per $100, compared to 147,750 dinars per $100 yesterday, Monday.
Selling prices at exchange offices in Baghdad’s local markets remained stable, with the selling price reaching 148,750 dinars per $100, and the buying price reaching 146,750 dinars per $100. https://economy-news.net/content.php?id=54218
A US Bank Announces Its Readiness To Expand The Number Of Correspondent Accounts Opened For Iraqi Banks
Economy | 04/08/2025 Mawazine News – Baghdad US bank JPMorgan Chase expressed its willingness to expand the number of correspondent accounts opened for Iraqi banks on Tuesday.
A statement from the office of Prime Minister Mohammed Shia al-Sudani received by Mawazine News stated that “Al-Sudani received a delegation from JPMorgan Chase headed by the bank’s Deputy Director, Daniel Zelikow, on the sidelines of the Iraqi Banking Sector Reform Conference held in Baghdad.”
He added that “the meeting discussed enhancing cooperation in the financial and banking fields, and the bank’s participation in financing various investment projects, in addition to examining mechanisms for securing credits and financial transfers and ensuring their delivery to their beneficiaries in Europe and the United States, which will contribute to improving services provided to Iraqi traders and importers.”
He stressed “the importance of expanding the areas of partnership between Iraqi banks and JPMorgan Chase, noting the government’s readiness to provide all forms of support to strengthen this relationship.”
For its part, the JPMorgan Chase delegation expressed its willingness to increase cooperation with Iraq by expanding the number of correspondent accounts opened for Iraqi banks, and their willingness to finance a number of investment projects directly or through partner financial institutions. https://www.mawazin.net/Details.aspx?jimare=260645
Al-Sudani Discusses With JP Morgan Mechanisms To Secure Financial Transfers And Their Access To Europe And America
Banks Economy News – Baghdad Prime Minister Mohammed Shia al-Sudani discussed today, Tuesday, with a delegation from JPMorgan Chase, headed by the bank’s Deputy General Manager, Daniel Zeljko, enhancing cooperation in the financial and banking sectors.
The Prime Minister’s Media Office stated in a statement received by Al-Eqtisad News that “Al-Sudani met with a delegation from JPMorgan Chase, headed by the bank’s Deputy Director, Daniel Zelikow, on the sidelines of the Iraqi Banking Sector Reform Conference held in Baghdad.”
During the meeting, the two sides discussed enhancing cooperation in the financial and banking fields, including the bank’s participation in financing various investment projects.
They also discussed mechanisms for securing credits and financial transfers and ensuring their delivery to those entitled to them in Europe and the United States, which will contribute to improving services provided to Iraqi traders and importers.
Al-Sudani stressed the importance of expanding partnerships between Iraqi banks and JP Morgan, noting the government’s readiness to provide all forms of support to strengthen this relationship.
For its part, the JP Morgan delegation expressed its “willingness to increase cooperation with Iraq by expanding the number of correspondent accounts opened for Iraqi banks, and its willingness to finance a number of investment projects directly or through partner financial institutions.” https://economy-news.net/content.php?id=54229
The Government Rules Out Any Impact On Iraq From The Global Drop In Oil Prices
economy | 08/04/2025 Mawazine News – Baghdad The Prime Minister’s financial advisor, Mazhar Mohammed Salih, confirmed on Tuesday that Iraq’s federal budget for the years “2023-2025” has taken into account fluctuations in the oil market, and that the decline in global oil prices will not affect the country’s internal situation.
Mazhar said in a statement to the Center for Strategic Studies and Trade Policy at the Ministry of Trade that “there are indications that the world is entering a cycle of declining oil prices that will not cause any repercussions on the country’s internal situation.”
He pointed out that “these indicators are due to the decline in the intensity of the Russian-Ukrainian conflict and Iran’s openness to negotiations with the United States on the one hand, and the escalation of the US-led trade war by imposing customs duties on various markets despite the exclusion of oil and gas on the other hand, which has negatively impacted oil contracts and markets.”
He pointed out that “what is happening on the global scene is a temporary crisis that will stabilize in the coming period within the logic of global economic balances.”
He explained that “the clash between the climate of geopolitical détente and the escalating trade war could lead to a global economic shock that reduces demand for energy, especially with the 1% decline in global growth rates and the 0.5% decline in crude oil demand in global markets.”
He indicated that the oil market is now threatened by a glut that could weaken prices in the coming decades with the return of OPEC+ production to normal.
Saleh emphasized “the importance of reconciling the oil conflict between China and the United States, as the former is one of the largest importers of oil, and the latter is one of the largest producers, which makes oil price stability a vital issue for both parties.” https://www.mawazin.net/Details.aspx?jimare=260647
US Trade Delegation: Iraq Represents A Promising Investment Market
Political | 08:20 – 08/04/2025 Mawazine News – Baghdad The head of the visiting US trade delegation to Iraq, Steve Lutes, affirmed on Tuesday that Iraq represents a promising market for investment, and that American companies are looking forward to cooperation opportunities in various sectors, with a focus on creating job opportunities for Iraqi youth and contributing to the development of infrastructure and vital services.
The media office of the Speaker of Parliament said in a statement received by Mawazine News: “The Speaker of the Iraqi Parliament, Mahmoud Al-Mashhadani, received at the Presidential Palace in Baghdad the Chargé d’Affaires of the US Embassy to Iraq, Daniel Rubinstein, accompanied by a large economic delegation from the American Chamber of Commerce, including representatives of 57 American companies, headed by Steve Lutes, and a number of company presidents and investors, within the framework of the American Chamber of Commerce Economic Conference held in Iraq.”
The statement added that “at the beginning of the meeting, Al-Mashhadani welcomed the American delegation,” stressing that “Iraq welcomes all initiatives that contribute to developing its economy and strengthening its international partnerships, especially with the United States of America, which represents one of the most important strategic partners in various fields.”
The Speaker of Parliament stressed, according to the statement, “the critical importance of investment in Iraq, especially in vital and strategic sectors such as oil and electricity, which represent the backbone of the Iraqi economy.”
He emphasized “the need to stimulate investment in the agricultural and industrial sectors, in addition to service sectors that are relevant to the lives of Iraqi citizens, such as the environment, education, and health.”
Al-Mashhadani explained that “the Iraqi Parliament has enacted an investment law that provides a safe and stimulating legal environment for investment, protects the rights of investors, and encourages transparency and equal opportunities.”
He pointed out that “Parliament, as the ‘house of the people,’ ensures a decent and safe life for citizens and works closely with the government through effective coordination mechanisms to support development projects and facilitate the entry of investments.”
Al-Mashhadani stressed, according to the statement, that “the Iraqi Parliament strongly supports the signing of bilateral agreements with friendly countries, as this contributes to stimulating economic activity, attracting more foreign investment, and creating new job opportunities that contribute to reducing unemployment and enhancing economic stability.”
The statement continued, “Daniel Rubinstein, Chargé d’Affaires at the US Embassy in Baghdad, expressed his happiness with this meeting, stressing his country’s commitment to supporting Iraq in its path towards economic development and stability, and strengthening the partnership between the American and Iraqi private sectors.”
For his part, the head of the US trade delegation, Steve Lutes, stressed that “Iraq represents a promising market for investment, and that American companies are looking forward to cooperation opportunities in various sectors, with a focus on creating job opportunities for Iraqi youth and contributing to the development of infrastructure and vital services.”
The statement concluded that “the meeting comes within the framework of the Iraqi state’s efforts to support economic openness and expand its investment relations with international partners, in a way that enhances sustainable development and provides a stable and attractive environment for investment in various sectors.” https://www.mawazin.net/Details.aspx?jimare=260650
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