Iraq Economic News and Points to Ponder Thursday Afternoon 1-4-24

Tlm724 Administrator Bondlady’s Corner

The Dollar Continues To Rise In The Parallel Market

Economy |  04/01/2024  The main stock market in Baghdad closed today, Thursday, due to a rise in the price of the dollar against the Iraqi dinar.

According to local sources, selling prices in money exchange shops in local markets in Baghdad recorded 154,500 dinars for 100 dollars, while purchasing prices reached 152,500 dinars for 100 dollars.

The selling price this morning was 153,500 dinars, while the purchase price was 151,500 dinars for every 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=239895

Morgan Stanley Expects Oil Prices To Fall In 2024 As Supply Increases

Morgan Stanley   Arab and international  Economy News - follow-up  Morgan Stanley expects Brent crude prices to stabilize near $80 per barrel in the first half of 2024 before declining by the end of the year as supply outpaces global oil demand growth this year.

The bank expects the growth of global oil demand to slow as the favorable factors that accompanied the recovery from the Covid-19 pandemic recede. Morgan Stanley analysts expected oil demand to grow to 1.2 million barrels per day in 2024, compared to about 2.2 million barrels per day in 2023.

Non-OPEC supply growth is also expected to decline, but at a slower pace, to grow by about 1.7 million barrels per day in 2024, driven in part by production from the United States, Brazil, and Canada.

OPEC+ plans to hold a meeting on February 1 to evaluate the recent decision to reduce oil production.

Brent crude was trading at $78.63 a barrel by 0440 GMT on Thursday, while US West Texas Intermediate crude futures reached $73.22.  01/04/2024 - https://economy-news.net/content.php?id=39160

In Numbers: More Than $97 Billion In Iraq’s Oil Revenues Last Year

Time: 01/04/2024 20:02:46 Read: 52 times  {Economic: Al-Furat News} Last year, 2023, Iraq sold more than 1.232 billion barrels of oil, with revenues exceeding 97 billion dollars.

According to the Ministry of Oil’s data, related to crude oil exports and revenues generated from them during the past year 2023, collected by the Rudaw Media Network, Iraq achieved more than 97 billion and 513 million and 743 thousand dollars.

These revenues came from the sale of more than 1.232 billion and 170 thousand barrels of crude oil within 12 months.

October is the month with the highest revenues, amounting to $9,593,643 billion, and the month is the highest in terms of exports, which amounted to 109,545,589 barrels.

The month with the lowest revenues was February, amounting to 7,062,704 billion dollars, with exports amounting to 92,255,610 barrels.

Below are statistics on total oil exports and revenues by month in 2023:

January  Exports: 101,245,095 barrels   Revenues: 7,663,788 billion dollars

February  Exports: 92,255,610 barrels   Revenues: 7,062,704 billion dollars

March  Exports: 100,913,027 barrels   Revenues: 7,506,401 billion dollars

April  Exports: 98,634,947 barrels      Revenues: 7,699,272 billion dollars

May  Exports: 102,463,387 barrels    Revenues: 7,324,641 billion dollars

June  Exports: 100,059,052 barrels   Revenues: 7,115,000 billion dollars

July  Exports: 106,755,169 barrels   Revenues: 8,330,475 billion dollars

Dad  Exports: 106,122,679 barrels   Revenues: 8,997,851 billion dollars

September  Exports 103,143,199 barrels   Revenues: 9,422,140 billion dollars

October  Exports: 109,545,589 barrels   Revenues: 9,593,643 billion dollars

November  Exports: 102,975,782 barrels   Revenues: 8,481,558 billion dollars

December  Exports: 108,056,590 barrels   Revenues: 8,316,000 billion dollars

Iraq occupies fifth place among the top 10 countries in the world with oil reserves, according to the Italian oil company Eni, amounting to 145.019 billion barrels for the year 2022 with a compound growth rate of 0.1%.   LINK

An American Official: Our Forces In The Region Have Been Subjected To About 115 Attacks Since October 17

the world | 06:30 - 04/01/2024  The Washington Post quoted an American defense official as saying that American forces and international coalition forces in the region have been subjected to about 115 attacks since last October 17.

For his part, an American official told Reuters that the army carried out a strike in Baghdad against an Iraqi faction leader believed to be responsible for attacks on American forces.

According to the Pentagon, the missile and drone attacks resulted in the injury of about 60 American soldiers.   https://www.mawazin.net/Details.aspx?jimare=239893

The US Army Confirms That It Carried Out A Strike On An Iraqi Faction Responsible For Attacks Against It

 04/01/2024 Mawazine News – Baghdad  The United States of America approved, today, Thursday, the implementation of an air strike against the Popular Mobilization Forces in the capital, Baghdad.

Reuters quoted an American official as saying: “We carried out a strike in Baghdad against a leader in an Iraqi faction suspected of being behind attacks on our forces.”

The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasool, confirmed earlier today, Thursday, that the American targeting of one of the headquarters of the Popular Mobilization Forces east of Baghdad is “an act no different from terrorist acts.”

https://www.mawazin.net/Details.aspx?jimare=239885

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 Provoking Points To Ponder on Adversity:

The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.- Martin Luther King, Jr.

Great occasions do not make heroes or cowards; they simply unveil them to the eyes of men. Silently and imperceptibly, as we wake or sleep, we grow strong or weak; and at last some crisis shows what we have become.- Brooke Foss Westcott

What does not destroy me, makes me strong.- Friedrich Nietzsche

I long ago came to the conclusion that all life is six to five against.- Damon Runyon

 (Adversity is) the state in which a man most easily becomes acquainted with himself, being especially free from admirers then.- Samuel Johnson

Adversity has the same effect on a man that severe training has on the pugilist - it reduces him to his fighting weight.- Josh Billings

From a fallen tree, all make kindling.- Spanish proverb

The virtue of prosperity is temperance; the virtue of adversity is fortitude, which in morals is the heroical virtue.- Francis Bacon

http://famousquotesandauthors.com/topics/adversity_quotes.html

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