Zig’s Place Chatroom News Monday AM 7-12-21

Zig’s Place Chatroom News Monday AM 7-12-21

 Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

Butterfly  Iraq is fifth in oil production in 2020   Monday 12 July 2021 12:15......A recent report issued by the British oil company BP for the month of July 2021 announced the largest oil countries in the world (the most productive) during the year 2020, while indicating that Iraq came fifth among these countries.

The report stated that "the United States ranked first as the most crude oil and condensate producer, with a production of 16.476 million barrels per day in 2020, and the United States maintained the lead despite a 3.5% decrease in its production from 2019."

And the shale oil boom in the United States contributed to boosting US crude production to exceed 16 million barrels per day, after it was 7.6 million barrels per day in 2010, according to BP data.

He added, "Saudi Arabia came second with a total production of 11.039 million barrels per day of oil last year, which was 6.7% lower than the levels of the previous year."

Over the past decade, oil production has ranged from less than 10 million barrels per day to levels above 12 million barrels per day.

He pointed out that Russia came third on the list, as its total production of crude oil and condensate last year amounted to 10.667 million barrels per day.

butterfly   This came after a strong decline in Russia's oil production during the pandemic year, falling by 8.7% from 2019 levels, which amounted to 11.679 million barrels per day.

The report indicated that Canada came fourth, with production of (5.135 million barrels per day), followed by Iraq, with production of (4.114) million barrels per day, and then China came sixth (3.901) million barrels per day, and the UAE was seventh, with production (3.657) million barrels per day, and Iran was eighth, with production (3.084). ) million barrels per day, Brazil ninth with production (3.026) million barrels per day, and Kuwait tenth with production of (2.686) million barrels per day.

The report indicated that Saudi Arabia remains the first in the Middle East without a competitor, and then Iraq comes, followed by the UAE, according to BP estimates issued in July 2021.

butterfly  In Europe, Norway tops the list with a production of 2.001 million barrels per day of crude oil and condensates in 2020, followed by the Kingdom the United States, then Italy.

Among the North American countries, the United States comes first, while Brazil is at the top of the list for countries in the Central and South American region.

butterfly   Oil falls on fears over tight supplies

Monday 12 July 2021 11:41 .....Oil futures declined as a result of concerns about the slowdown in global growth, weighing them against a possible shortage of supplies, after talks between major producers faltered to increase production in the coming months.

Brent crude for September delivery fell 35 cents, or 0.5%, to $75.20 a barrel, and West Texas Intermediate crude for August delivery recorded $74.23, down 33 cents, or 0.4 percent.

And the finance ministers of the Group of Twenty warned that the spread of strains of the Corona virus and the lack of fair access to vaccines for developing countries threatens the recovery of the global economy.

Oil prices fell last Tuesday, after the “OPEC +” group failed to reach an agreement to increase production from August, as a result of the UAE’s refusal to extend a proposed extension of OPEC + production cuts for a period of eight months.

Doug_W  OIL should be about 42 Dollars a barrel

butterfly   \ Doug_W Just another reason to raise the price of gasoline.

Doug_W  yes

butterfly  Summer the price always goes up.

Doug_W   I know that is truth

butterfly   More travelers, more dollars to be made. We have dealt with this "game" for many decades now.

butterfly  It frustrates me with what Branson did. Yes goody for him, but look at how much people could have been put in homes, food, pay bills.....but now we must focus on the "billionaires" and their fun.

butterfly   Now the one that has never paid federal taxes will have his "fun" and the media will focus on him in 9 days.

butterfly   Enough of my frustration.

butterfly  The rise in the exchange rate of the dollar on the main stock market

Monday 12 July 2021 11:39..........The exchange rates of the dollar rose, today, Monday, on the main stock exchange and local markets, against the Iraqi dinar.

Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad recorded 147,950 Iraqi dinars for 100 US dollars, after it registered, during its opening yesterday morning, 147,600 dinars.

Selling prices in banking shops in the local markets increased to 148,500 Iraqi dinars, while purchase prices amounted to 147,500 dinars per 100 US dollars.

butterfly   Re-opening two branches of Al-Rafidain Bank in Mosul, six years after they went out of service

Monday 12 July 2021 10:54 .........The local government in Nineveh Governorate reopened two branches of Al-Rafidain Bank in Ayser and Ayman Mosul, after they were out of service for a period of no less than (six) years due to their bombing by ISIS gangs.

Hussein Lazem, Director General of the Central Bank of Iraq in Nineveh Governorate, told the National Iraqi News Agency ( NINA ): "The two branches resumed work, after leaving the two alternative headquarters, which were on the outskirts of Mosul."

butterfly   Al-Rafidain threatens to take legal measures against the reluctance to pay the money they owe

Monday 12 July 2021 09:47........Al-Rafidain Bank threatened, today, Monday, the delayers to pay the loans by taking legal measures and activating the law of obtaining state funds, in addition to the late fines imposed on the delayers, calling on citizens to pay their late monthly installments with the aim of circulating the interest to other segments.

And the media office of the bank stated in a statement: “There are some citizens who are reluctant to pay their monthly payments in installments arranged on loans and other banking facilities,” stressing: “The bank will take legal measures and activate the law of obtaining state funds, in addition to the late fines imposed on those who are reluctant.”

He pointed out that "refusing to pay what they owe harms citizens and accumulates debts on them and exposes them to dire legal consequences. It is the duty of advice to speed up payment in order to preserve public money, in addition to giving the opportunity to the rest of the citizens to benefit from the services provided by the bank from the returns of installments and lagging money."

The statement stressed that "the bank continues to provide various types of services and facilities for those wishing to obtain apartments in the Basmaya residential complex, in addition to loans for small projects, construction and restoration loans, car loans, in addition to investment loans and other services."

butterfly   The House of Representatives will hold a regular session tomorrow, Tuesday, whose agenda includes voting on several bills and questioning Finance Minister Ali Abdul-Amir Allawi.

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