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Battered by War, Iraq Now Faces Calamity From Dropping Oil Prices
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Iraq's budget of $101 billion in 2015, deficit of $20 billion, based on optimistic production estimates of 3.3 million barrels a day
03/11/2015
Experts say Iraq will struggle to reach 2014 average production levels of 2.5 billion barrels a day. The budget assumes an oil price of $56 a barrel.
Grouped Articles
How Falling Oil Prices Are Hindering Iraq’s Ability to Fight Islamic State
Wall Street Journal 03/11/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
From Venezuela to Iraq to Russia, Oil Price Drops Raise Fears of Unrest
New York Times 08/24/2015
Iraq Warns Oil Companies of Spending Cuts
Wall Street Journal 09/15/2015
Stalled Oil Field Project Adds to Iraq’s Woes
Wall Street Journal 09/16/2015
Battered by War, Iraq Now Faces Calamity From Dropping Oil Prices
New York Times 01/31/2016
The calculations of the Saudis, Russia, Iran and Iraq, Venezuela, and other OPEC members as oil prices decline in Oct.-Dec. 2014
10/15/2014
Each side the Saudis, the Russia, and Iran is looking at the drop in oil prices and how much it can absorb using sovereign reserves as lower prices leads to budget deficits in 2015-2016. Russia and Iran face greater problems with western sanctions, and falling currency values exacerbating rising inflation. Other OPEC countries such as Venezuela and Nigeria face a crisis from falling revenues. In the U.S. this will affect shale oil production as less efficient producers shut down plants, with the overall outlook of lower oil prices being positive.
Grouped Articles
Fall in Oil Prices Poses a Problem for Russia, Iraq and Others
New York Times 10/15/2014
The Oil Price Swoon Won’t Stop the Shale Boom
Wall Street Journal 10/23/2014
As Oil Prices Plummet, Saudi Arabia Faces a Test of Strategy
New York Times 10/15/2014
Refining Saudi Arabia’s Oil Strategy
Wall Street Journal 11/03/2014
Saudi Price Cut Upends Oil Market
Wall Street Journal 11/04/2014
OPEC Members Nearing Compromise on Supply Cuts
Wall Street Journal 11/26/2014
The Iranian factor in oil prices for 2015-2016
03/17/2015
A nuclear deal reached in 2015 would reduce economic sanctions. The economic sanctions since 2012 have cut Iran's sales of crude to 1-2 million barrels a day, half of normal production levels. The extra crude following a succesful nuclear negotiated deal would keep oil prices low for an extended period.
Grouped Articles
Iran’s Nuclear Deal Could Open Oil Flood
Wall Street Journal 03/17/2015
Iran’s Discount Deal for Global Oil
Wall Street Journal 07/14/2015
The Global Battle for Oil Market Share
Wall Street Journal 12/16/2015
Battered by War, Iraq Now Faces Calamity From Dropping Oil Prices
New York Times 01/31/2016
Weak Oil Prices Curbing Production
Wall Street Journal 04/13/2016
Oil prices, financial markets sink after production limit plan fails - The Washington Post
Washington Post 04/18/2016
Problems facing Iraq's oil industry in 2015 with lower oil prices- lack of resources for needed investment in older oil fields in the south, and loss of supplies with the conflict in the Kurdish north
03/11/2015
The older oil fields in the Basra region in the south need major investments to offset declining production. Oil production in the Kurdish region in the north has suffered from the invasion by Islamic State. Oil prices at $56 in the budget leave a deficit of $20 billion for Iraq. Iraq needs a price over $100 to balance the budget. An alternative is for Iraq to issue $10-15 billion in bonds for much needed investments in oil fields. Iraq depends on western oil companies for investment and modernization, yet many of these companies have not been paid for earlier work.
Grouped Articles
How Falling Oil Prices Are Hindering Iraq’s Ability to Fight Islamic State
Wall Street Journal 03/11/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
From Venezuela to Iraq to Russia, Oil Price Drops Raise Fears of Unrest
New York Times 08/24/2015
Iraq Warns Oil Companies of Spending Cuts
Wall Street Journal 09/15/2015
Stalled Oil Field Project Adds to Iraq’s Woes
Wall Street Journal 09/16/2015
Battered by War, Iraq Now Faces Calamity From Dropping Oil Prices
New York Times 01/31/2016
The effect of Iranian oil following lifting of sanctions on global oil supplies and prices 2015-2016
07/14/2015
Grouped Articles
Iran’s Discount Deal for Global Oil
Wall Street Journal 07/14/2015
U.N. Moves to Lift Iran Sanctions After Nuclear Deal, Setting Up a Clash in Congress
New York Times 07/20/2015
The Global Battle for Oil Market Share
Wall Street Journal 12/16/2015
Oil glut dampens Iran’s hopes for big cash flows as sanctions lift - The Washington Post
Washington Post 01/17/2016
Iran Complies With Nuclear Deal; Sanctions Are Lifted
New York Times 01/16/2016
Battered by War, Iraq Now Faces Calamity From Dropping Oil Prices
New York Times 01/31/2016
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