Summary OPEC+ announces no new group cut target for 2024 Instead members led by Saudi Arabia to make voluntary cuts Saudi to roll over 1 million bpd cut into Q1 Russia to cut 500,000 bpd OPEC+ invites Brazil to join LONDON/MOSCOW/DUBAI, Nov 30 (Reuters) - OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrel
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ERBIL, Kurdistan Region - Low trust in Iraq’s banking institutions has prevented residents from depositing their cash into their bank accounts with an overwhelming 80 percent of cash being kept in households, an advisor to the Iraqi prime minister said on Wednesday. “Because people’s confidence in dealing with the banking institutions is very weak, only about 20 percent of t
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Mosul – A dig in northern Iraq has unearthed a 2,700-year-old alabaster sculpture of the winged Assyrian deity Lamassu, which was found largely intact despite its large dimensions. Only the head was missing and that was already in the collection of the Iraq Museum in Baghdad after being confiscated by customs officers from smugglers in the 1990s, the dig’s French leader Pasc
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Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil announced on Wednesday that oil export revenues through September surpassed $9.42 billion. According to final statistics issued by the State Organization for Marketing of Oil (SOMO), the total exports of crude oil during September were more than 103.14 million barrels, with revenues exceeding $9.42 billion. SOMO data rev
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A project to build a subsea pipeline in the Southern Iraqi oil hub of Basra will boost the Arab country’s crude exports to more than 5 million barrels per day (bpd) by 2025, the Director of state-run Basra Oil Company (BOC) was quoted on Tuesday as saying. The pipeline will have a capacity of nearly 2 million bpd and is expected to be completed after 400 days, Bassim Shamkha
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