Iraq, with the world’s fifth-biggest oil reserves, needs to keep increasing crude output because lower oil prices have curbed government revenue. Oil prices have slumped in the past year as the Organization of Petroleum Exporting Countries defended market share against production in the U.S. Source Bloomberg
President Recep Tayyip Erdogan has found a benefactor to help pull Turkey from the brink of a financial crisis as Qatar promised to invest $15 billion in the country. Source: Bloomberg
The United States is sending via pipelines record volumes of natural gas to Mexico, and although U.S. pipeline capacity to Mexico and production and exports have jumped in recent years, delays at some pipelines on Mexican territory have been slowing down the rise in U.S. piped natural gas exports. Source: Oil Price
Amid a freeze in confidence-building measures ordered by the Hellenic Armed Forces General Staff (GEETHA) over the detention of two Greek soldiers and reports of Turkish vessels harassing Greek fishermen in the eastern Aegean, Athens is now bracing for Ankara’s plans in coming days to drill for gas deposits in the Eastern Mediterranean and, possibly, within Cyprus’s exclusive economic zone (EEZ). Source: Ekathimerini
