• 4 minutes What will the future hold for nations dependent on high oil prices.
  • 7 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 12 minutes OPEC Cuts Deep to Save Cartel
  • 15 minutes Venezuela continues to sink in misery
  • 9 hours End of EV Subsidies?
  • 14 hours Citi cuts Apple's price target
  • 8 hours Maersk's COO statment.
  • 10 hours Japan Effectively Bans China’s Huawei, ZTE From Government Contracts, Joining U.S
  • 4 hours GOODBYE FOREIGN OIL DEPENDENCE!!
  • 11 hours Oil prices may go up, but will be below $70 a barrel in FY19: Hindustan Petroleum Chairman
  • 4 hours Asian stocks down
  • 12 hours USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 12 hours Regular Gas dropped to $2.21 per gallon today
  • 7 hours Trump accuses Google Of Hiding 'Fair Media' Coverage of him
  • 2 hours IT IS FINISHED. OPEC Victorious
  • 5 hours Price Decline in Chinese Solar Panels

Global Energy Advisory - 26th September 2014

Geopolitical & Conflict Updates

Iraq

For August 2014, Iraq’s oil export revenues were down to $7.1 billion, from $7.8 billion in July. Exports for August were at 73.6 million barrels, and the selling price for Iraqi crude was at $97.4 per barrel, down from $102.8 per barrel in July. This reflects the cutoff of exports from the oilfields in northern Kirkuk since the beginning of March due to the Islamic State’s (IS) overrunning of the area and attack on a pipeline to Turkey, while production continues unimpeded in Iraq’s major-exporting southern fields.

This is just a sneak preview, though of the geopolitical quagmire in which we’re about to find ourselves buried. The US is bombing the IS ‘Caliph’ with Tomahawks, F-22s and drones bearing Hellfire missiles. They’ve destroyed checkpoints, a mansion in Raqqah that used to be mayor’s home but was turned into an IS headquarters and a handful of checkpoints along the stretch of Iraqi and Syrian territory controlled by IS. What they’re really doing is bombing Syrian leader Bashar al-Assad using Iraq as the justification that they couldn’t swing when we were only talking about Syria. The problem is that the Pentagon doesn’t really have a handle on who they’re bombing. They’re targeting the Khorasan group, for one, which is a special cell within al-Qaeda that includes figures from across the Middle East and into Pakistan (aka Taliban).…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions




Oilprice - The No. 1 Source for Oil & Energy News
-->