Iraq Economic News and Points To Ponder Thursday Afternoon 7-31-25

The Iraqi Stock Exchange Traded Shares Worth More Than 7 Billion Dinars In One Week.

Thursday, July 31, 2025| Economic Number of readings: 164  Baghdad / NINA / The Iraq Stock Exchange announced, on Thursday, that it traded shares worth more than 7 billion dinars during five trading sessions during the last week of July.

According to market statistics, the number of traded shares during this week amounted to more than 3 billion shares, with a financial value of more than 7 billion dinars.

The ISX60 market trading index closed for the first session of the week at (977.25) points, while the index closed at the end of the week at (945.99) points, achieving a decrease of (3.30%) compared to its closing at the beginning of the session. The

ISX15 market trading index closed for the first session of the week at (1130.28) points, while the index closed at the end of the week at (1108.27) points, achieving a decrease of (1.99%) compared to its closing at the beginning of the session.

During the week, (4556) buy and sell contracts were executed on the shares of companies listed on the market. /End  https://ninanews.com/Website/News/Details?key=1243925

Iraq To Increase Oil Production In August

Time: 2025/07/31 Reading: 660 times    {Economic: Al Furat News} A government advisor revealed Iraq's intention to increase its crude oil export production over the next month.

The Prime Minister's financial advisor, Mohammed Salih, explained in a press statement that "the OPEC+ meeting held in June 2025 approved a plan to gradually ease the additional voluntary production cuts that eight countries have committed to since 2023," noting that "these countries will collectively begin gradually increasing their production by 548,000 barrels per day until September 2025."

Salih explained that Iraq had been committed to an additional voluntary cut of approximately 220,000 barrels per day since the beginning of 2024, and according to the new easing plan, it will be allowed to gradually increase its production starting next August.

The list of countries that will implement this increase includes Saudi Arabia, Iraq, the UAE, and Kuwait, in addition to Russia, Algeria, Oman, and Kazakhstan. The percentages of the increase will be distributed differently among these countries, based on an internal agreement within the alliance.

The Organization of the Petroleum Exporting Countries and its allies in the OPEC+ alliance decided to increase the production of eight member countries, as part of a plan to gradually ease the voluntary cuts, starting in August 2025 and continuing until September of the same year.

It is noteworthy that the federal government announced on July 17 that it had reached an agreement with the Kurdistan Regional Government to resume crude oil exports from the region, after a halt of more than two years, following drone attacks targeting the region's oil fields.

The agreement stipulates that "the regional government shall immediately begin delivering all oil produced from the region's fields to the State Oil Marketing Organization (SOMO) for export, provided that the current delivered quantity is not less than 230,000 barrels per day, to which any increase in production will be added."

Under the agreement, the federal Ministry of Finance is obligated to pay the regional government an advance of $16 for each barrel delivered, while 50,000 barrels per day are allocated for domestic consumption within the region.

Iraq is OPEC's second-largest oil producer, exporting approximately 3.5 million barrels of crude oil per day.    LINK

Oil Prices Continue To Rise For The Fourth Consecutive Day.

Energy  Economy News - Follow-up   Oil prices rose for a fourth consecutive day on Thursday as investors fretted over supply amid US President Donald Trump's efforts to quickly resolve the war in Ukraine and his threats to impose tariffs on countries that buy Russian oil.

Brent crude futures for September delivery, which expire on Thursday, rose 27 cents, or 0.4%, to $73.51 a barrel by 00:28 GMT. US West Texas Intermediate crude for September delivery rose 37 cents, or 0.5%, to $70.37 a barrel. Both benchmarks settled 1% higher on Wednesday.

Brent crude for October delivery rose 29 cents, or 0.4%, to $72.76. "Buying interest continues to be supported by concerns that secondary tariffs on countries importing Russian crude will lead to supply cuts," said Toshitaka Tazawa, an analyst at Fujitomi Securities.

Trump threatened on Tuesday that he would begin imposing measures on Russia, including 100% secondary tariffs on its trading partners, if it did not make progress toward ending the war within 10 to 12 days, shortening a previous 50-day deadline. Trump said on Wednesday that the United States was still negotiating with India on trade, after announcing earlier in the day that the United States would impose a 25% tariff on goods imported from India starting Friday.

The United States also warned China, the largest buyer of Russian oil, that it could face hefty tariffs if it continues purchasing. The US Treasury Department announced new sanctions on Wednesday against more than 115 individuals, entities, and vessels linked to Iran, a sign that the Trump administration is intensifying its "maximum pressure" campaign against Iran after the bombing of key nuclear sites in June. China is the largest buyer of Iranian oil.

Meanwhile, U.S. crude oil inventories rose by 7.7 million barrels in the week ending July 25 to 426.7 million barrels, driven by lower exports, the Energy Information Administration reported Wednesday. Analysts had expected inventories to decline by 1.3 million barrels.
https://economy-news.net/content.php?id=58145

After A Month Of Declines In Its Prices, Gold Is On The Rise Globally
Economy | 07/31/2025  Mawazine News - Follow-up  Gold prices rose on Thursday from a monthly low recorded in the previous session, as uncertainty over new US tariffs increased the yellow metal's appeal.
Spot gold rose 0.8% to $3,301.49 per ounce by 06:12 GMT, after hitting its lowest level since June 30 at $3,267.79 on Wednesday.   US gold futures were steady at $3,295.80 per ounce.
https://www.mawazin.net/Details.aspx?jimare=264434

A New Rise In The Dollar Exchange Rate In Baghdad

Economy | 07/31/2025  Mawazine News - Baghdad -  The dollar exchange rate witnessed a significant rise against the Iraqi dinar this Thursday morning in local markets in Baghdad.The selling price reached 140,750 dinars for $100, while the buying price reached 138,750 dinars for $100.   https://www.mawazin.net/Details.aspx?jimare=264431

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