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Iraq Oil Exports Unaffected by Political Turmoil

An armed member of Saraya al-Salam (Peace Brigade), the military wing affiliated with Shiite cleric Moqtada al-Sadr, takes aim during clashes with Iraqi security forces in Baghdad's Green Zone on August 30, 2022. (AFP)
An armed member of Saraya al-Salam (Peace Brigade), the military wing affiliated with Shiite cleric Moqtada al-Sadr, takes aim during clashes with Iraqi security forces in Baghdad's Green Zone on August 30, 2022. (AFP)
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Iraq Oil Exports Unaffected by Political Turmoil

An armed member of Saraya al-Salam (Peace Brigade), the military wing affiliated with Shiite cleric Moqtada al-Sadr, takes aim during clashes with Iraqi security forces in Baghdad's Green Zone on August 30, 2022. (AFP)
An armed member of Saraya al-Salam (Peace Brigade), the military wing affiliated with Shiite cleric Moqtada al-Sadr, takes aim during clashes with Iraqi security forces in Baghdad's Green Zone on August 30, 2022. (AFP)

Iraq's oil exports are unaffected by the current political turmoil in the country, three sources told Reuters on Tuesday.

Baghdad is seeing its worst fighting for years as clashes between Shiite groups spill into a second day.

Supporters of Shiite cleric Moqtada al-Sadr have surrounded the Majnoon oil field in Basra since Monday evening as well as the 210,000 barrel per day (bpd) Basrah refinery, according to two sources.

But protesters are expected to leave these areas shortly after Sadr told supporters to withdraw from violent clashes, one of the sources said.

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GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA
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GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA

Saudi Arabia’s General Authority for Statistics (GASTAT) said Thursday that the Industrial Production Index (IPI) statistics for November 2024 showed a 3.4% increase compared to the same month of the previous year.

This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities, GASTAT said.

Furthermore, the sub-index of mining and quarrying activity increased by 1.2%, and the sub-index of manufacturing activity increased by 7.2%.

The sub-index of electricity, gas, steam, and air conditioning supply activity recorded a decrease of 2.1%, and the sub-index of water supply, sewerage and waste management and remediation activities increased by 10.5%.

The IPI by main economic activities increased by 3.8% compared to the same month of the previous year, while the index of non-oil activities also increased by 2.4%.

GASTAT publishes the IPI monthly. It is an economic indicator that reflects the relative changes in the volume of industrial output. It is calculated based on the industrial production survey.