Iraq devalues dinar 13% as Hormuz disruption hits oil revenue The central bank said in a statement that it had revised the official exchange rate to 1,520 Iraqi dinars per dollar from around 1,320. Iraq
Explainer Rubio says Iran ‘lost’ Hormuz. Has it? US Secretary of State Marco Rubio said Wednesday that Iran has “lost complete control” of the waterway, pointing to the recovery in Gulf oil exports in September. Iran
Turkey, Pakistan to deploy forces to Saudi Arabia amid Houthi attacks Turkish, Saudi and Pakistani officials agreed to bolster military cooperation under the Mecca defense pact as Houthi attacks and fighting in Yemen intensify. Turkey
Mideast oil exports surpass prewar levels despite pipeline, ship attacks Bloomberg reported on Monday, citing sources, that Saudi Arabia’s key East-West Pipeline was flowing as normal, despite an earlier report that it had closed again following a new attack. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis As Iran’s grip on Hormuz weakens, what leverage does Tehran have left? By A correspondent in Tehran In Tehran, reporting on politics
Turkey says Russia agreed to delay gas payment ahead of elections The deal marks another economic boon from Moscow to Ankara ahead of Turkey's fateful elections. Turkey
Analysis Saudi-led OPEC turns deaf ears on oil cuts amid global slowdown Predictions for GDP growth in the Gulf look more optimistic than those for the rest of the world, and the region is resisting calls to stop cutting oil production. By Salim A. Essaid
What's at stake for China in Sudan as fighting drags on? China’s economic interests, deep-rooted diplomatic relations with Khartoum, leaves Beijing worried about instability in Sudan and the Horn of Africa. Sudan
Turkey's Erdogan opens half-empty financial hub in Istanbul ahead of polls Incumbent President Recep Tayyip Erdogan denies the country is facing an economic crisis, while attacking the opposition for making backroom deals with money lenders. Turkey
Analysis What is behind Kuwait's change of government, economic woes? The decades-long dance of political reshuffles has prevented the execution of investment and reforms in national infrastructure, health and social services, and also economic projects. By Salim A. Essaid
Saudi Arabia will mine minerals, but can it extract maximum added value? The kingdom wants to leverage its untapped mineral deposits to boost non-oil exports and incentivize local manufacturers to turn raw materials into high-value products. Legacy: Gulf
TotalEnergies confirms $10 billion investment in Iraq oil fields, solar plant The long-delayed deal is expected to bolster the regional electricity grid in the south of the country. Iraq
Oil deal reached between Iraq and Kurdistan Regional Government The Kurdistan Regional Government says an agreement will result in the resumption of oil exports to Turkey after a legal dispute stopped outflows. Iraq
Oil prices rise by 5% after OPEC's surprise output cut decision Brent Crude had its sharpest price increase in almost a year on Monday after reports that major oil producers will slash their output. Legacy: Gulf
OPEC+ likely to maintain output in light of Kurdish oil dispute Analysts say the OPEC+ alliance is unlikely to cut production and there could be be a oil glut in the second half of 2023. Legacy: Gulf
Saudi's Aramco could list in Hong Kong as China relations warm Aramco's latest deals in the Chinese market are fueling speculation that the Saudi giant could be set to list one of its subsidiary companies on the Hong Kong Stock Exchange (HKSE). Legacy: Gulf
Iraqi efforts underway to resolve Kurdish oil exports via Turkey Ankara, Baghdad and Erbil appear willing to negotiate a new mechanism after an international tribunal dealt a blow to Kurdistan’s drive to sell its oil independently. Turkey
