The U.S. military is “not in Iraq to seize anybody’s oil”, Defense Secretary Jim Mattis said as he arrived for talks with Iraqi leaders on Monday, distancing himself from remarks by President Donald Trump. Mattis was the highest-ranking Trump administration official to visit Iraq since Trump irked Iraqis with a temporary ban on travel to the United States and for saying America should have seized Iraq’s oil after toppling Saddam Hussein in 2003.
Category: Iraq
Kurdistan Said Close to Resuming Monthly Payout to Oil Companies
The government of Iraqi Kurdistan is close to resuming regular monthly payments to international oil companies as the rally in crude prices replenishes the region’s depleted treasury, according to people familiar with the matter. It’s almost seven weeks since Genel Energy Plc, Gulf Keystone Petroleum Ltd and DNO ASA received their last payment from the Kurdistan Regional Government, which was for oil sold in September.
Oil Drops to One-Month Low on U.S. Supply Outlook, OPEC Concern
Oil fell to a three-week low amid speculation that U.S. crude supply is rising while the market weighs compliance by OPEC and other exporters with promised output curbs. Prices dropped 2.2 percent.
Oil Slips on Concerns U.S. Production is Rising
Oil fell on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market. Brent crude futures were down 96 cents at $56.14 a barrel at 1128 GMT.