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11 Jun 2018

Iraqi Oil Min: oil prices still need more support and stability

According to a statement released by Iraqi Oil Minister Jabar al-Luaibi on Monday, oil prices still need more support and producers should act wisely without being influenced by conflicting calls to pump more oil.

• Should not exaggerate the need for the oil market for more supplies
• Iraq has reduced production and applied December 2016 OPEC agreement.
• Rejects unilateral decisions by some oil producers that act without consulting the other OPEC members of the OPEC+ agreement.
• Iraq one of the first countries to affirm the extension of the 2017 agreement despite the challenges it faced.
• Producers within and outside OPEC have not yet reached planned target following historic decision to cut production.
• Warns that unilateral decisions on oil output could constitute a breach of OPEC, non-OPEC cut deal and could lead to its collapse.

Jun 11, 2018

UK: GDP grew by 0.2% in the three months ending in May 2018 - NIESR

"Our monthly estimates of GDP suggest that output grew by 0.2 per cent in the three months ending in May 2018 following growth of 0.1 per cent in the

China: Industrial production growth to tick up in May - Nomura

Analysts at Nomura expect China’s industrial production growth to tick up in May, as indicated by high frequency indicators, a better-than-expected of