Iraqi Economists Network

Baghdad calls on Iraqi Kurdistan officials to discuss oil export resumption

Baghdad (IraqiNews.com) – In an attempt to come to an agreement on the restart of oil exports via an oil pipeline to the Turkish port of Ceyhan, the Iraqi Ministry of Oil on Tuesday asked for a meeting as soon as possible with the Ministry of Natural Resources in the Kurdistan region of Iraq and foreign companies operating in northern Iraq.

Iraq to continue oil production cuts until the end of 2025

Baghdad (IraqiNews.com) – Iraq and other OPEC+ member states decided on Sunday to extend the additional voluntary cuts of 1.65 million barrels per day until the end of December 2025. Iraq, Saudi Arabia, Russia, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, which announced voluntary cuts in April 2023 and November 2023, held a meeting in the Saudi capital, Riyadh, on the sidelines of the 37th OPEC and non-OPEC Ministerial Meeting (ONOMM).

IMF Expects Iraq’s Economy to Grow by 1.4% in 2024, 5.3% in 2025

The International Monetary Fund (IMF) said on Thursday that Iraq’s economy contracted by 2.2% in 2022, projecting a growth by 1.4% in 2024 and 5.3% in 2025. The international monetary organization expected fiscal deficit to widen to 7.6% of GDP in 2024 from 1.3% in 2023, noting that Iraq requires an ambitious fiscal adjustment to stabilize debt in the medium term and rebuild buffers.

Baghdad announces commitment to nationwide census date

Baghdad (IraqiNews.com) – The Iraqi Minister of Planning, Mohammed Tamim, said on Sunday that the population census will take place on November 20, 2024, as planned. Tamim mentioned in a statement that he met with officials in the Planning Ministry, where he reviewed the stages of work and the progress made in field procedures and requirements to complete the population census.

As Iraq inches toward the formation of a new government, the risks are stacking up for OPEC’s second-biggest crude producer. Beyond the country’s long-standing sectarian tensions, frayed relations with the Kurdish north, a bloated public wage bill and endemic corruption, new Prime Minister Mustafa Al-Kadhimi now has to grapple with a collapse in oil revenue and the fallout f

(1) The link below is for World Bank’s World Commodity Market Outlook April 2020. It was released on May 1. https://www.worldbank.org/en/research/commodity-markets (2) Its sections on energy, and oil in particular, including Box 1, pp 24-30, are very much worth reading. (3) It expects a price for oil (average of Brent, Dubai, and WTI) of $35/B for 2020 to rise to $42/B

Introduction Since the crash in Iraqi oil prices from US$61.0 (per barrel) at the end of January 2020 to US$20.7 by mid-April 2020, a crisis compounded by the spread of COVID-19 virus, political vacuum, failed ethno-sectarian polity, to mention but a few, the country has been grappling with quasi-existentialist questions? First, can/should Iraq as a country and

The Gulf War ranks in terms of scale of destruction and its consequent economic impact as one of the most devastating conflicts of modern times. Both Iran and Iraq are now confronted with the need to reconstruct shattered economies. What is clear, however, is that a return to the pre-war economic situation is not a realistic option. The cost of the conflict to Iraq means that i

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