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Iraq has granted $20 billion worth of construction projects to a consortium of Chinese companies, according to local media reports.
Oil rose globally amid shocking scenes in the US capital and the anticipated confirmation of Biden's election win.
Oil prices surge as Saudis pledge to cut output
Oil prices surged following Saudi Arabia's decision to trim production.
OPEC+ meeting to set February production levels
After agreeing to a slight boost for January, OPEC+ ministers will meet on Monday to set oil production levels for next month, amid a ...
Oman foresees $5.7 bn deficit in 2021 budget
The government expects revenues of 8.64 billion riyals based on an oil price of $45 dollars a barrel, 19 percent less than in 2020.
The New Arab's Most Important Stories from 2020
A retrospective of our coverage of 2020's leading stories
The Iraq Report: Deadly unrest in Iraqi Kurdistan
With a crumbling economy, rampant corruption and unpaid salaries, Iraqi Kurdistan's woes are intricately linked to the wider problems the ...
Saudi Arabia’s economy shrinks for fifth consecutive quarter
Saudi Arabia's economy has contracted again, as the country grapples with falling oil production and emerges from lockdown.
China, Iraq set to ink multi-billion dollar bailout deal
The contract will run for five years, with the successful bidder paying up-front for the first year's supply of oil.
OPEC+ strike deal for lower production hike from January
The OPEC+ grouping have announced a raise in production of 500,000 barrels per day (bpd).
OPEC+ seeks compromise on output cut extension
Producers, including Saudi Arabia and Russia, disagree on whether to extend oil production cuts into next year.
OPEC+ calls last-minute talks ahead of planned oil increase
Saudi Arabia and Russia called an informal meeting of OPEC+ ministers, which is likely to delay a planned oil production increase, just ...
Saudi minister confident of 'good relationship' with Biden
Saudi Arabia's oil minister expressed optimism at the prospect of good relations with US President-elect Joe Biden.
Iraq, Saudi reopen border crossing after 30 years
Iraq and Saudi Arabia reopened their Arar desert crossing after a 30-year closure.
Oil jumps ten percent on Pfizer Covid-19 vaccine news
A double whammy of news for oil producers has seen the price of a barrel of crude rise by ten percent.
Global stocks surge, dollar slumps as Americans vote
Traders are looking at the contest largely through the prism of the election's impact on the US response to the pandemic.
Biden win could see oil glut over Iran deal
A Biden win could lead to more crude on the market.
What will happen to US 'maximum pressure' on Iran?
Analysis: Trump and Biden paint two very different pictures of a future relationship with Iran, but either way, the 'maximum pressure' strategy ...
Two children killed in blast targeting Iraq pipeline
An investigation has been launched into the explosion in Muthanna province, south of Baghdad, that killed two children.
One year on, Iraq's youth rise again
A year on from the protest movement that felled the government, young Iraqis are just as angry about the same issues and are rekindling ...
IMF calls for speedy reforms in virus-hit Arab countries
The IMF has urged Middle Eastern and North African countries to speed up the pace of economic reform as coronavirus and low oil prices take ...
Saudi, Russia urge oil producers to adhere to limits
Saudi Crown Prince Mohammed bin Salman and President Vladimir Putin 'agreed on the importance of all oil-producing countries to continue ...
Global oil demand to recover by 2022: Aramco
Aramco's chief executive predicted the crude oil market could recover to pre-coronavirus levels by 2022, however the International Energy Agency ...
Oman to bring in five-percent VAT for first time
Oman will impose VAT for the first time from 2021 due to the economic downturn caused by coronavirus and low oil prices, becoming the fourth GCC ...
Saudis are staying at home this summer, as coronavirus continues to spread.
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