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Aditya Saraswat - 1 Saraswat - 1
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Israel retaliating Iran East Hormuz jeopardizing
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☆ Crude oil prices edge higher after four-day losing streak
  + stars: | 2024-10-17 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +1 min
Crude oil futures rose slightly Thursday after a four-day losing streak as fears of a supply disruption in the Middle East eased and a surplus looms over the market next year. Here are Thursday's energy prices:Israel has reportedly told the U.S. that it will refrain from hitting Iran's oil facilities in retaliation for the Islamic Republic's Oct. 1 ballistic missile attack. The oil market sold off steeply Tuesday on reports that Israel will limit its strike to military targets in Iran. An attack on oil facilities, however, could disrupt 1.4 million bpd of Iran's production, Saraswat said. A full-blown war could lead to Iran choking the Strait of Hormuz, jeopardizing 12 million bpd of oil and "driving up prices sharply," the analyst said.
Persons: Aditya Saraswat, Saraswat Organizations: Rystad Energy Locations: Israel, retaliating, Iran, East, Hormuz, jeopardizing
☆ Analysis: Iraq's ambition to match Saudi oil output is out of reach
  + stars: | 2023-03-27 | by ( Rowena Edwards Maha El Dahan Ahmed Rasheed | Rowena Edwards | Maha El Dahan | ) www.reuters.com   time to read: +6 min
Iraq's Oil Minister Hayan Abdel-Ghani, who took office in October, plans to update Iraq's oil production strategies to meet local needs while complying with the OPEC+ agreement, oil ministry spokesman Asim Jihad told Reuters. It is too early for the new government to talk about any significant increases in Iraq's oil production outside the OPEC+ agreement, Jihad said. 'HARD, IF NOT IMPOSSIBLE'For the oil sector, the country has repeatedly delayed a target to reach 7-8 million bpd capacity, from the current 5 million bpd. The beneficiaries were not the international oil companies, but UAE firm Crescent Petroleum and two Chinese companies. Iraq's oil minister this month revived seven investment opportunities in Iraq's refining sector.
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