Dollar Falls In Baghdad, Erbil
2026-11-08 09:09 Shafaq News- Baghdad/ Erbil The US dollar closed Sunday’s trading lower in Baghdad and Erbil, hovering around 168,500 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 168,400 dinars per 100 dollars, down from the morning session’s 168,600 dinars.
In the Iraqi capital, exchange shops sold the dollar at 169,000 dinars and bought it at 168,000 dinars, while in Erbil, selling prices stood at 168,350 dinars and buying prices at 168,250 dinars. https://shafaq.com/en/Economy/Dollar-falls-in-Baghdad-Erbil
ISX Weekly Trading Tops $6.2M
2026-11-09 08:31 Shafaq News- Baghdad The Iraq Stock Exchange (ISX) recorded trading worth more than 9.4 billion Iraqi dinars (about $6.23M) last week, down 49% from the previous week.
According to market data, 8.837 billion shares were traded, a decline of 83% from the previous week, with total trading value reaching 9.467 billion dinars across 5,342 transactions.
The ISX60 index closed at 902.85 points, down 1.17% from the previous session.
Shares in 69 companies were traded during the week, while 27 companies recorded no activity because buy and sell orders did not match. Trading in nine other companies remained suspended because they had not submitted required disclosures.
Non-Iraqi investors purchased 49 million shares worth 47 million dinars in 30 transactions. They also sold 21 million shares worth 304 million dinars in 241 transactions.
The Iraq Stock Exchange holds five trading sessions a week, from Sunday to Thursday, and lists 105 Iraqi joint-stock companies operating across the banking, telecommunications, industrial, agricultural, insurance, financial investment, tourism, hotel, and services sectors. https://shafaq.com/en/Economy/ISX-weekly-trading-tops-6-2M
Iraqi PM Sets 10M Bpd Oil Target For 2030
2026-11-08 09:46 Shafaq News- Baghdad Iraq aims to increase oil production to 10 million barrels per day (bpd) by 2030 to strengthen its economy and support development, Prime Minister Ali Al-Zaidi said on Sunday.
During a meeting with provincial officials in Al-Anbar, where he also launched a housing land-distribution project under the Watan Initiative, Al-Zaidi pledged to address outstanding financial entitlements for families of “terrorism” victims, displaced residents, homeowners whose properties were damaged, and farmers. Describing the current phase as “one of construction and development,” he warned against obstructing reconstruction projects or exploiting instability for financial gain.
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On Thursday, Al-Zaidi discussed plans for a pipeline linking Iraqi oilfields to Mediterranean and Red Sea ports with representatives of a consortium proposing the project. He pledged to ease procedures for foreign companies and remove obstacles to its implementation, citing potential gains in revenue and access to global energy markets.
Iraq’s crude oil exports averaged 3.35 million bpd in October, according to Bloomberg.
Read more: Iraq’s Hormuz reliance exposed as regional wars drag on
https://shafaq.com/en/Economy/Iraqi-PM-sets-10M-bpd-oil-target-for-2030
Oil Prices Stabilize Following Trump De-Escalation Remarks
2026-11-09 00:46 Shafaq News Oil prices were steady on Monday after US President Donald Trump downplayed the likelihood of new strikes on Iran, though attacks on ships near the Strait of Hormuz kept supply concerns in focus.
Brent inched up 3 cents to $98.35 a barrel by 0427 GMT, while US West Texas Intermediate rose 0.5% to $91.30 a barrel.
Brent fell 16% last week, the steepest weekly drop since the start of the COVID pandemic.
"Despite the recent optimism surrounding a potential diplomatic breakthrough, the underlying geopolitical risks remain elevated, and the possibility of renewed military escalation cannot be ruled out," said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm.
"The market appears to be pricing in a relatively optimistic scenario of de-escalation, even though a comprehensive agreement between Washington and Tehran has yet to materialise," she said.
Trump said on Sunday he was highly unlikely to order fresh attacks on Iran as long as talks to end the conflict progress, even as both countries reported that shipping had been hit in or near the Strait of Hormuz.
He had hinted at renewing attacks on Iran after last week's US midterm elections, but there has been no sign of a large-scale US military operation. Iran has said it would respond by striking US and Israeli targets.
Tim Waterer, chief analyst at KCM Trade, called Trump's comments "more measured" but said "the market is still waiting to see whether the midterms have produced a lasting shift in Trump’s approach to the conflict, or whether this is just another temporary change in tone."
Oil is headed for a glut again as recovering Middle Eastern oil flows, rising production from other countries and weak demand have pushed global supply above consumption, JPMorgan said in a report on Friday, estimating a surplus of 1.1 million barrels per day in September, widening to 1.4 million bpd in October.
Separately the Iran-aligned Houthis claimed responsibility for an attack on Saudi Aramco's offices in the capital Riyadh on Sunday that left windows blown out but no reported casualties. (Reuters)
https://shafaq.com/en/Economy/Oil-prices-stabilize-following-Trump-de-escalation-remarks
US Imports Of Iraqi Oil Fall 86% Year-On-Year In August
2026-11-09 02:24 Shafaq News- Washington/ Baghdad US imports of Iraqi crude oil and petroleum products fell sharply to 1.387 million barrels in August 2026, down from 10.234 million barrels in the same month last year, marking an 86.4% year-on-year decline, according to data from the US Energy Information Administration (EIA).
Total US imports of Iraqi oil reached 37.482 million barrels in the first eight months of 2026, compared with 61.692 million barrels during the same period in 2025, a decrease of 24.21 million barrels, or 39.2%.
Monthly figures show that US imports of Iraqi oil declined from 10.649 million barrels in January 2026 to 504,000 barrels in June, before rising to 1.486 million barrels in July and easing to 1.387 million barrels in August.
Weekly EIA data show that the United States has gone six consecutive weeks without importing Iraqi crude.
Iraq's oil sector has been hit by the closure of the Strait of Hormuz, a strategic waterway through which roughly 20% of the world's oil supply passes. According to the Iraqi Oil Ministry, the disruption has reduced oil production from around 3.5 million barrels per day (bpd) to approximately 1.3 million bpd, while exports have fallen to about 800,000 bpd.
Iran, which claims control over the waterway, has nevertheless exempted Iraq, India, China, and Qatar from its shipping restrictions, allowing vessels from the four countries to pass through the strategic Strait.
Read more: Hormuz shutdown could slash Iraq's oil revenues 80%
https://shafaq.com/en/Economy/US-imports-of-Iraqi-oil-drop-86-in-2026