SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Strictly: Drilling and oil-field services
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Captain James T. Kirk who wrote (28312)8/25/1998 5:17:00 PM
From: Gameboy  Read Replies (2) of 95453
 
Iraqi oil exports, revenues rise in latest week
Tuesday August 25, 3:05 pm Eastern Time
biz.yahoo.com

An excerpt:

For the week, there were 13 liftings of Kirkuk or Basrah Light crude, totaling 14.9 million barrels. The average price for those barrels was $10.00 per barrel, up from an average of $9.44 per barrel for the week ending Aug 14 and up from $8.66 per barrel for the week ending Aug 7, the U.N. report showed.

Several important points from this article:

1) Iraqi's are commanding rapidly rising prices $8.66, $9.44, and $10.00 in the last three consecutive weeks - good news for those of us looking for higher crude prices.

2) As Iraq commands greater prices, Iraq is proportionately restricted on the quantity it can sell because its "oil for food" quota is based on revenue received - thus at $10.00/barrel Iraq's quota in barrels of oil to export is reduced by 15% - good news for those of us looking for less total worldwide production of oil.

3) Iraq at these higher prices will be able to produce more than the "oil for food" UN guidelines allows. Iraq is already raising a stink over weapons inspections and we contend they've already assisted terrorists in the production of bio-chemical weapons. We may be headed for a showdown with Iraq.

Best of luck,

Steve
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News