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Iraq

Iraq is a country in the Middle East, bordered by Türkiye to the north, Iran to the east, Kuwait and Saudi Arabia to the south, Jordan to the west and Syria to the north-west. Its capital and largest city is Baghdad. Iraq has a population of about 42-million and an economy heavily dependent on oil exports, which account for the majority of government revenue and gross domestic product. The country holds some of the world's largest proven oil reserves, concentrated in fields around Basra in the south and Kirkuk in the north, and is a member of the Organisation of the Petroleum Exporting Countries. Iraq also has significant natural gas resources, though much remains underexploited. The currency is the Iraqi dinar. Iraq is a federal parliamentary republic. The country is a founding member of the Arab League and the Organisation of Islamic Cooperation. Iraq's modern history has been shaped by the overthrow of the monarchy in 1958, decades of authoritarian rule, the Iran–Iraq War of the 1980s, the Gulf War in 1991, international sanctions and the 2003 invasion that toppled Saddam Hussein, followed by years of sectarian conflict and the fight against insurgent groups.

Iraq Updates


US Secretary of State Marco Rubio
Hostilities flare in Iran war, oil jumps with talks at a stalemate
3rd June 2026 By: Reuters

Gulf hostilities flared again on Wednesday, with an Iranian missile attack damaging Kuwait's airport and the US military carrying out strikes near the Strait of Hormuz, as diplomacy between... 


IMF signage
IMF cuts growth outlook, warns of potential global recession if Iran war worsens
14th April 2026 By: Reuters

 The International Monetary Fund cut its growth outlook on Tuesday due to Iran war-driven energy price spikes and supply disruptions and warned that the global economy would teeter on the brink of... 


IMF, World Bank, IEA warn that fuel prices may remain high for prolonged period
IMF, World Bank, IEA warn that fuel prices may remain high for prolonged period
14th April 2026 By: Terence Creamer

The heads of the International Energy Agency (IEA), International Monetary Fund (IMF), and World Bank Group have jointly warned that fuel and fertiliser prices may remain high for a prolonged... 


Post-war recovery of Middle Eastern oil and gas fields could take months
9th April 2026 By: Rebecca Campbell

Edinburgh, Scotland-based global energy and natural resources analytics, insights and proprietary data company Wood Mackenzie has warned that it would be months, after a ceasefire was achieved in... 


US President Donald Trump
Oil plunges after Trump postpones strikes on Iranian power plants
23rd March 2026 By: Reuters

Oil prices fell by 7% on Monday after US President Donald Trump said he would postpone any military strikes against Iranian power plants for five days after constructive talks, hours ahead of a... 


Photo of Terence Creamer
Fundamentally disrupted
20th March 2026 By: Terence Creamer

Peace is not merely the absence of war. Yet when conflicts rage, the foremost priority is always to find ways to stop the killing and the destruction of infrastructure. Only then is there any... 


Currency flag
South African rand weakens as Middle East conflict weighs on sentiment
17th March 2026 By: Reuters

The South African rand edged lower in early Tuesday dealings as market sentiment remained cautious amid continuing conflict in the Middle East, after the US embassy in Iraq was hit by a drone... 


S&P Global Energy forecasts oil prices of $70/bbl to $100/bbl for the remainder of this year
13th March 2026 By: Schalk Burger

Energy market intelligence company S&P Global Energy says the 17-million-barrel-a-day reduction in crude oil and refined product supply available to the market from March 1 to 11 represents the... 


Drone view of a pump jack
Oil climbs as Iran steps up attacks on Gulf shipping
12th March 2026 By: Reuters

Oil prices jumped on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, raising fears of a prolonged conflict and oil-flow disruptions through the Strait of... 


An oil rig and oil tanker at sea
Oil prices seesaw as markets weigh IEA reserves release, persistent supply concerns
11th March 2026 By: Reuters

Oil prices rebounded on Wednesday as markets doubted whether the International Energy Agency's reported plan for a record release of oil reserves could offset potential supply shocks from the... 


An oil tanker at sea
Oil soars 25%, gold drops as Iran war jolts global commodity markets
9th March 2026 By: Reuters

Oil prices surged around 25% on Monday to their highest since mid-2022, with Brent on track for a record one-day gain, while gold fell 2% as an escalating Iran war squeezed world energy supplies,... 


An aerial view of the Strait of Hormuz
US strike on Iran 'ahead of game plan' but global markets rattled, energy prices soar
4th March 2026 By: Reuters

US forces continued a round-the-clock assault on Iran and Israel mounted a "broad wave" of strikes on Wednesday targeting Iranian missile sites and air defence systems in a campaign that a top... 


An oil pump
OPEC+ keeps oil output steady amid turmoil among members
4th January 2026 By: Reuters

OPEC+ kept oil output unchanged on Sunday after a quick meeting that avoided discussion of the political crises affecting several of the producer group's members. Sunday's meeting of eight members... 


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pqt: 0.066s - ct: 0.127s - 234pq - 2rq
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