Iraqi News Wednesday Afternoon 9-21-22
Tlm724 Administrator Bondlady’s Corner
Oil Prices Rise After OPEC Fails To Achieve Production Target
Economie| 09:10 – 09/21/2022 Follow-up – Mawazine News: Oil prices rose slightly, on Wednesday, after OPEC failed to achieve the production target, offset by fears of raising interest rates from the US Federal Reserve, which could lead to a recession.
Brent crude futures rose 14 cents, or 0.3 percent, to $90.76 a barrel by 04:40 GMT, after falling $1.38 the previous day. US West Texas Intermediate crude was at $84.00 a barrel, up 6 cents.
On the supply side, the OPEC+ group of producers – the Organization of the Petroleum Exporting Countries and its partners including Russia – has fallen to a record 3.58 million barrels per day below its targets, or about 3.5% of global demand. market, even with recession fears driving prices lower.
The head of Saudi state oil giant Aramco said on Tuesday that Europe’s plans to end consumer energy bills and tax energy companies are not long-term or beneficial solutions to the global energy crisis, driven in large part by a lack of investment in hydrocarbons.
Conversely, the Federal Reserve is widely expected to raise interest rates by 75 basis points for the third time in a row later on Wednesday as it seeks to rein in inflation. These expectations weigh on stocks, which often move in tandem with oil prices.
Higher interest rates supported the dollar, which approached a two-decade high on Tuesday, making oil more expensive for holders of other currencies. https://www.mawazin.net/Details.aspx?jimare=206053
Iraq Raises Its Holdings Of US Bonds To 2.5 Billion Dollars Last July
695 Economie 2022/09/18 09:41 Baghdad today – Baghdad Today, Sunday, the US Treasury announced that Iraq increased its holdings of US bonds to more than 2.5 billion dollars during the month of July.
The Treasury said in its latest schedule that it followed (Baghdad Today), that “Iraq’s possession of US Treasury bonds for the month of July of 2022 increased by $2.622 billion, or by 8.2%, to reach $34.587 billion, after it was $31.965 billion in the month of June.”
Indicating that “these bonds rose from the same month last year 2021, when Iraq’s possession of bonds amounted to 19 billion dollars.”
She added that “Iraqi bonds, including long-term guarantees amounting to 14.149 billion dollars and short-term guarantees amounting to 20.393 billion dollars,” noting that these bonds represent 0.45% of the world’s bonds.
In the Arab world,
Saudi Arabia comes at the forefront of the most possessing countries, reaching 121.611 billion dollars,
Kuwait comes second with 49.377 billion dollars, the UAE comes third with 41.315 billion dollars, then
Iraq fourth and Oman fifth with 6.996 billion dollars, then Morocco with 3.783 billion dollars.
She pointed out that “the largest holder of US bonds is Japan, with a value of 1,234.289 trillion dollars,
followed by China, with 970.014 billion dollars, followed by the United Kingdom, with 634.628 billion dollars, and then Luxembourg with 304.218 billion dollars.” https://baghdadtoday.news/news/200875/العراق-يرفع-حيازته-للسند
The Dollar Stabilizes In The Iraqi Market
Economie| 09:44 – 09/21/2022 Baghdad – Mawazine News, the dollar exchange rates stabilized today, Wednesday, on the Iraqi Stock Exchange. And the selling prices of the dollar were recorded at 147.700 dinars per 100 dollars, while the purchase prices of the dollar were recorded at 147.600 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=206056
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