Growth in Iraqi oil production will be squeezed for the next decade despite the country being the second largest OPEC producer after Saudi Arabia and the fourth biggest in the world, according to a report by US consultancy IHS Markit.
Iraq's parliament has elected speaker Mohammed al-Halbousi, former governor of the western province of Anbar, marking the first step towards forming the new government four months after national elections.
Iraq indicated that it has officially removed the US dollar in trade with Iran by announcing a legal limit for passengers to carry along euros — instead of the customary US dollars — into the Islamic Republic.
Iraq indicated that it has officially removed the US dollar in trade with Iran by announcing a legal limit for passengers to carry along Euros - instead of the customary US Dollars - into the Islamic Republic.
A sense of calm returned to Iraq’s southern city of Basra on Sunday after a week of violent protests over unemployment and poor public services that left at least 15 people dead and threatened stability in the oil-rich region.
Iran’s Foreign Ministry spokesman Bahram Qassemi said on Monday Tehran will work with any government which is formed in neighboring Iraq after two political factions created an alliance that would give them a majority bloc in Parliament.