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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 3, 2026 / Tyler Durden
Two Thirds Of Americans Still Think It's A Bad Time To Buy A House
Two Thirds Of Americans Still Think It's A Bad Time To Buy A House
Americans looking to buy a house are currently facing conditions that make it hard for anyone but the very wealthy to afford buying a home.
Elevated home prices combined with mortgage rates that have rebounded from historic mid-pandemic lows to levels last seen in the early 2000s are causing major headaches for would-be home buyers.
To make things worse, many Americans had to dip into their savings during the past few years of high inflation, making it very hard...
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Mar 16, 2026 / Tyler Durden
China-US Trade Talks End In Paris As Doubts Grow Over Trump-Xi Summit
China-US Trade Talks End In Paris As Doubts Grow Over Trump-Xi Summit
Update (0911ET):
The Hong Kong-based South China Morning Post has published an update on the sixth round of U.S.-China trade talks, which concluded moments ago in Paris.
SCMP's title for the update is rather ominous: "China and the US end trade talks as doubts form over Trump visit."
The report states that both sides discussed a possible extension of existing tariff and non-tariff measures, as well as bilateral investment.
China's top trade negotiator, Li Chenggang, said the two sides held "deep, frank,...
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Jun 19, 2026 / Lipton Matthews
China’s Industrial Policy: Ambition, Inefficiency, and a Cautionary Tale for America
While China’s economy has boomed, many people wrongly associate that success with the Chinese government’s industrial policies. Intervention has created many problems there—just as it has done elsewhere.
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