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Another OPEC Exit? Iraq Warns It Could Abandon Oil Cartel If Quota Hike Rejected
Another OPEC Exit? Iraq Warns It Could Abandon Oil Cartel If Quota Hike Rejected
Iraq is sending a warning shot to OPEC: raise Baghdad's oil production quota to better reflect its capacity and fiscal needs, or risk yet another defection from the oil-producing cartel.
"The ministry currently has no intention of withdrawing from OPEC, and we remain committed to operating within the organization's framework and mechanisms," Oil Ministry spokesman Salim Al-Rikabi told Bloomberg via a text message.
Al-Rikabi warned, "Of course, taking into consideration that the Ministry is moving forward with...
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Jul 5, 2026 / Jason Ditz
Israeli Army Chief Threatens ‘Swift Offensive’ From Castle to Conquer Lebanon
Israeli strikes continue in southern Lebanon, albeit it at a somewhat slower pace over the past week. Two more Lebanese were killed and four wounded in the past 24 hours, according to Health Ministry officials, who put the total war toll at 4,304 people killed and 12,203 wounded since Israel’s invasion in early March. Media […]
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Jun 17, 2026 / Tyler Durden
"Late Spring Buyer Rush": US Pending Home Sales Just Surged By The Most In Almost 2 Years
"Late Spring Buyer Rush": US Pending Home Sales Just Surged By The Most In Almost 2 Years
Pending home sales in the US were expected to rise for the fourth straight month in May and they did with a huge beat (+3.8% MoM vs +0.9% MoM exp - above the highest analysts estimate), which was slightly offset by a downward revision for April (from +1.4% to +0.3%).
That is the best monthly improvement in pending home sales since Sept 2024 and that lifted sales by just over 2% YoY.
“A late spring...
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Sep 9, 2026 / Tyler Durden
Apple's Long-Awaited Foldable iPhone Arrives. Will It Fit In Your Pocket?
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