Iraqi Economists Network

شبكة الاقتصاديين العراقيين

Latest Economy News

EBRD set to decide on Iraq membership next month

The European Bank for Reconstruction and Development (EBRD) is assessing a request from Iraq to become a member of the multilateral financial institution, the bank’s acting president said on Monday. Iraq, an oil producer whose economy is suffering from the double blow of the coronavirus crisis and lower oil prices, could potentially receive funding to support its private sector if it joins. “Iraq’s membership will be decided by our board of governors at the annual meeting in three weeks from now,” said Jurgen Rigterink, the EBRD’s Acting President. Set up in 1991 to help ex-communist countries of eastern Europe shift to market economies, the EBRD has widened its geographic scope in recent years to countries including Egypt, Tunisia and Morocco.
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Iraq Falters in Push to Meet OPEC+ Quota as Crude Exports Rise

(Bloomberg) -- Iraq is exporting more crude so far in September than its daily average last month, seeming to put compliance with the country’s OPEC+ production limit further out of reach. A long-time laggard when it comes to reducing output by agreed amounts, Iraq already owes its partners in the producers’ group a level of cuts over and above its pledged target to make up for pumping too much in past months.
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BP says the era of oil-demand growth is over

BP Plc said the relentless growth of oil demand is over, becoming the first super major to call the end of an era many thought would last another decade or more.  Oil consumption may never return to levels seen before the coronavirus crisis took hold, BP said in a report on Monday. Even its most bullish scenario sees demand no better than broadly flat for the next two decades as the energy transition shifts the world away from fossil fuels.
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Iraq to Offer First-Ever Barley Exports as Rains Yield Surplus

The government plans to start auctioning 700,000 tons of the grain next week and anticipates interest from Gulf Arab states, Jordan and countries in North Africa, agriculture ministry spokesman Hameed Al-Nayef said by phone. It’s setting a minimum price of $125 per ton. “The reason behind the barley surplus is the water reserve we had from last year,” Al-Nayef said. “This year we harvested 600,000 tons.”
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Tariq Shafiq* Oil and Politics in My Life, The Author’s Biography

A typical Iraqi individual From the outset, let me say that I am an Iraqi in every sense of the word. My one goal in life was to pursue a career in energy as a petroleum engineer and serve my country. Despite several setbacks in my younger years, I secured my dream job, but it came at a cost. In 1971, I was sentenced to death in absentia on trumped-up charges that led to

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Historical Oil Shocks. By James D. Hamilton

ABSTRACT This paper surveys the history of the oil industry with a particular focus on the events associated with significant changes in the price of oil. Although oil was used much differently and was substantially less important economically in the nineteenth century than it is today, there are interesting parallels between events in that era and more recent developments.

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The Iraqi National Economy

Will crashing oil prices mean the collapse of
Introduction Since the crash in Iraqi oil prices from US$61.0 (per barrel)
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The Road to Economic Recovery in Iraq. –
SEATTLE, Washington — Iraq has been facing some extremely difficult times for
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WHEN AFFORDABILITY MATTERS: THE POLITICAL ECONOMY AND ECONOMIC
  This study by IOM Iraq, Returns Working Group (RWG), and Social
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Oil & Gas Policy

Oil: Brokered or Broken? By Alastair Newton
Last weekend’s agreement notwithstanding, international cooperation over oil output stands to be
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China Prepares To Close ‘Oil Deal Of A
Over the past week or so, China has eased quarantine measures in
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The Soleimani Effect: A Game-Changer for Iraqi Crude
The changing geopolitical landscape for Iraq’s energy sector   Much ink has
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Iran’s Retaliation Could Cause A Middle East Oil
Iran’s clerical leadership, under “Supreme Leader” Ayatollah Ali HoseiniKhamene‘i, is expected to
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