The oil and gas industry in the United States has hit a significant speed bump, as evidenced by a substantial drop in the weekly oil and gas rig count, an early sign of future output. According to a report by Baker Hughes, a leading energy services company, the number of operational rigs fell by seven … Read more
Fed’s Interest Rate Hike Plans Impact Commodity Markets The US Federal Reserve’s plan to raise interest rates by 25 basis points above 5% to curb inflation is causing a ripple effect in stock and commodity markets, decreasing speculative demand and prices for oil and other commodities like grains and oilseeds. The move to increase interest … Read more
Iraq’s April Crude Production Decline In April, Iraq experienced a significant 6% decline in crude production, with production dropping to 3.938 million barrels per day (bpd) from 4.2 million bpd in March. This decrease in production can be attributed to Turkey’s decision to halt Iraq’s 450,000 bpd of northern exports following an arbitration ruling by … Read more
Understanding the Relationship between Two Key Commodities Sugar and petroleum prices are two of the most important factors affecting the global economy. Their prices have a significant impact on various industries and can drive inflation in many countries. However, the prices of these two commodities are closely interdependent, and the global market often witnesses a … Read more
The Importance of Economic Diversification and Prospects for Iraq’s Oil Industry Iraq’s oil and gas industry has faced challenges this year, with an export pipeline closure in the north and ongoing conflict in the Kurdistan region. The country’s reliance on oil revenues has led to economic instability and highlights the need for diversification. However, new … Read more
Iraq has filed a petition in a US federal court seeking enforcement of an arbitration award against Turkey related to Iraqi oil exports. This development stems from a dispute between Iraq and Turkey over oil exports facilitated by the Kurdish Regional Government (KRG) without Baghdad’s consent. The case highlights the complexities of regional politics and … Read more
As the world slowly recovers from the COVID-19 pandemic, the shares of Occidental Petroleum, Exxon Mobil, and Marathon Oil have been on the rise. As an expert in international trade, I offer insights into the reasons for this upward trend and the factors driving it. Global Demand for Oil and Post-Pandemic Economic Recovery One of … Read more
Commercial procedures for the international trade of commodities can be complex, involving numerous documents, payment instruments, and third-party inspections. To facilitate these transactions and provide a framework for the parties involved, the International Chamber of Commerce (ICC) has developed guidelines and procedures that are widely recognized and used in the industry. In this article, we … Read more
The United States’ role in the global market The United States is one of the world’s largest exporters of goods and services, with a diverse range of products that cater to different industries and markets. In 2020, the US exported over $1.4 trillion worth of goods and services, with the top 10 products accounting for … Read more
Argentina, known for its rich culture, beautiful landscapes, and delicious cuisine, is also a powerhouse in the world of international trade. The country’s economy is heavily dependent on exports, with a wide variety of products and industries contributing to its success. In this article, we will take a closer look at Argentina’s top 10 exported … Read more