Masrour Barzani: We agreed with Al-Zaidi on a unified budget for Kurdistan and held excellent talks.
Masrour Barzani: We agreed with Al-Zaidi on a unified budget for Kurdistan and held excellent talks.
On Monday, Kurdistan Regional Government Prime Minister Masrour Barzani announced that an agreement had been reached with Iraqi Prime Minister Ali Zaidi regarding the allocation of a unified budget covering all parts of the region, stressing that the talks between the two sides were “excellent”. Iraqeconomic reports
Barzani said in a speech from Baghdad, which was followed by Shafaq News Agency, that the talks with the Iraqi government were excellent, expressing his pleasure at the good understanding between the two sides, especially regarding the allocation of a single and unified budget for the Kurdistan Region, which includes all its regions.
Regarding the Kormor field, he explained that both sides agreed on the need to put an end to attacks targeting oil and gas fields, noting the formation of an investigative committee on this matter to reach conclusions.
He expressed hope that the investigations would identify those involved in these attacks, so that anyone found responsible would receive the appropriate legal punishment. Earlier today, Federal Prime Minister Ali Zaidi discussed outstanding issues between the federal government and the Kurdistan Regional Government with Kurdistan Regional Government Prime Minister Masrour Barzani. These issues included the management of oil fields, revenues, employee salaries, the region’s share of the 2027 federal budget, and the oil and gas law.
The Prime Minister of the Kurdistan Region arrived in the federal capital, Baghdad, on Monday morning to discuss the federal budget law and other issues.
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Another postponement… The Cabinet will not discuss the 2027 budget.
Another postponement… The Cabinet will not discuss the 2027 budget.
An informed source revealed on Monday that the Cabinet will not discuss the 2027 budget schedules during its session on Tuesday, indicating that the discussion will be postponed until further notice.
The source explained to Al-Maalomah that “available indicators suggest the Cabinet will not discuss the 2027 budget schedules in its session on Tuesday.”
He clarified that “the postponement is due to several reasons, most notably the lack of agreement between Baghdad and Erbil regarding the Kurdistan Region’s share of the budget, in addition to other discussions concerning the handling of financial entitlements, the regional development budget, and other financial matters.”
The source added that “postponement is necessary until a decisive agreement is reached,” noting that “the visit of a delegation from the Kurdistan Region to Baghdad was aimed at reaching an agreement between Baghdad and Erbil, but so far there are no indications of a comprehensive agreement.”
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Carrying Trump’s proposal, al-Zaidi makes an “unannounced” visit to Tehran
Carrying Trump’s proposal, al-Zaidi makes an “unannounced” visit to Tehran
Iraqi Prime Minister Ali al-Zaidi visited the Iranian capital, Tehran, last Friday, in an “unannounced visit” that lasted for hours. Iraqeconomic reports
The Iranian news agency Fars reported that al-Zaidi’s talks with the Speaker of the Iranian Parliament and the negotiating delegation, Mohammad Baqer Qalibaf, focused exclusively on Iraqi efforts to end the war between Iran and America.
Fars added that Qalibaf expressed to Al-Zaidi his appreciation for Iraq’s efforts and reviewed the Iranian proposal based on the two-day deadline, stressing the need for the United States to respect Iran’s rights within the framework of the proposed plan, which would allow negotiations to proceed.
The agency noted that al-Zaidi met with Qalibaf during his visit to Tehran, which lasted several hours last Friday, and that he was accompanied by the head of the Popular Mobilization Forces, Faleh al-Fayyad.
For his part, an informed source told Shafaq News Agency that al-Zaidi carried with him an offer from US President Donald Trump to end the war.
In this context, the Iraqi ambassador to Iran, Yasser Abdul Zahra Al-Hajjaj, confirmed on Monday that Al-Zaidi’s visit to Tehran was of a special and unannounced nature, and aimed to discuss ways to reduce tension and defuse the war in the region.
Al-Hajjaj told the official Iraqi News Agency that Iraq is not on the sidelines of what is happening in the region, but is actively acting in accordance with its supreme national interests, under the leadership of Prime Minister Ali al-Zubaidi, putting its diplomatic efforts at the service of calming tensions, preventing escalation, and promoting regional stability.
He added that Iraq is working to support stability in the region and prevent the conflict from escalating, through its diplomatic efforts.
Last Thursday, Al-Zaidi received a phone call from US President Donald Trump, during which they discussed the latest developments in the region, security developments, prospects for the next phase, the importance of coordination and consultation between the two countries regarding current challenges, and prioritizing dialogue and diplomacy in addressing crises, according to Al-Zaidi’s media office.
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US imports of Iraqi oil collapse as 24.2 million barrels are lost in months
US imports of Iraqi oil collapse as 24.2 million barrels are lost in months
U.S. imports of Iraqi crude oil and petroleum products fell sharply in August 2026 to 1.387 million barrels, compared to 10.234 million barrels in the same month last year, a decrease of 86.4%. Iraqeconomic reports
Data from the US Energy Information Administration, reviewed by Shafaq News Agency, showed that total oil imports from Iraq during the first eight months of this year amounted to 37.482 million barrels, compared to 61.692 million barrels for the same period in 2025, a decrease of 24.21 million barrels, or 39.2%.
The data indicates that US imports of Iraqi oil fell from 10.649 million barrels in January 2026 to 504,000 barrels in June, before rising to 1.486 million barrels in July, and then falling again to 1.387 million barrels in August.
This decline demonstrates the continued decrease in Iraqi oil flows to the US market during the current year.
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Iraq’s revenues exceed 52 trillion dinars as of September
Iraq’s revenues exceed 52 trillion dinars as of September
Data from the Ministry of Finance regarding the implementation of the federal budget up to the end of September 2026 showed that Iraq’s total revenues amounted to approximately 52.822 trillion dinars, while oil revenues constituted about 76% of the state’s total resources. Iraqeconomic reports
According to data seen by Shafaq News Agency, oil revenues amounted to about 40.202 trillion dinars, compared to non-oil revenues of about 12.620 trillion dinars, equivalent to about 24% of total revenues.
The data showed that Iraq’s total revenues amounted to about 52.822 trillion dinars, compared to total expenditures of about 85.680 trillion dinars, which means recording a gap between revenues and expenditures of about 32.858 trillion dinars.
Employee compensation topped the list of current expenditure items with a value of approximately 46.135 trillion dinars, followed by social welfare expenditures with approximately 20.572 trillion dinars, and then grants, subsidies, interest and other expenses with approximately 7.601 trillion dinars.
Expenditure on goods supplies amounted to approximately 3.007 trillion dinars, and on services supplies to approximately 203.9 billion dinars, while expenditure on asset maintenance amounted to approximately 57.7 billion dinars.
Thus, the budget implementation data reveals the continued widening gap between the state’s revenues and expenditures, as expenditures exceeded total revenues by about 32.9 trillion dinars during the first nine months of 2026, coinciding with the continued dependence of public finances on oil revenues, which constituted about three-quarters of total resources.
On an annual basis, the revenues of the Iraqi federal budget declined to about 52.822 trillion dinars up to September 2026, compared to about 91.168 trillion dinars for the same period in 2025, a decrease of about 38.347 trillion dinars, or 42.1%.
This decline was a result of a decrease in oil revenues to about 40.202 trillion dinars, compared to about 81.749 trillion dinars in the corresponding period of 2025, a decrease of 50.8%, while non-oil revenues increased to about 12.620 trillion dinars, compared to 9.420 trillion dinars, an increase of 34%.
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Al-Zaidi’s tours… an Iraqi seat in the arrangements for the next stage
Al-Zaidi’s tours… an Iraqi seat in the arrangements for the next stage
Analysts believe that Iraqi Prime Minister Ali al-Zaidi’s Arab and Gulf tours represent an attempt to reposition Baghdad in its regional environment and restore confidence with neighboring countries, in parallel with seeking to ensure an Iraqi presence in the post-war Middle East arrangements, amid questions about the government’s ability to translate its diplomatic openness into political influence and sustainable strategic partnerships. Iraqeconomic reports
Al-Zaidi began his regional moves with a visit to Saudi Arabia on October 14, 2026, where he met with Crown Prince Mohammed bin Salman. This was followed by a visit to Jordan on the 26th of the same month, during which he met with King Abdullah II, then Syria two days later, where he met with President Ahmed al-Sharaa, before heading to Bahrain on November 4, in what was considered the first visit by an Iraqi prime minister to Manama since 2003.
These moves will continue with an expected visit to Kuwait on November 8, followed by a visit to Lebanon on November 18, in a course that coincides with regional transformations imposed by the war on Iran that began on February 28, 2016, and the accompanying changes in the balance of power and concerns about the future of security, alliances, trade routes, and energy.
In analyzing the dimensions of these tours, Firas Elias, a professor of international relations at the University of Mosul in Nineveh Governorate, says that al-Zaidi’s movements cannot be separated from the strategic transformations taking place in the region, especially the repercussions of the war on Iran, and the resulting changes in the regional balance of power.
Elias adds to Shafaq News Agency that Iraqi diplomacy is moving on two overlapping levels. The first is rebuilding trust with the Arab and Gulf surroundings and strengthening political, economic and security cooperation. The second is ensuring Iraq’s presence in discussions related to the future of regional security and post-war arrangements, and not leaving its interests and geopolitical position out of the calculations.
Elias points out that the choice of tour stops carries political implications. Saudi Arabia represents a pivotal weight in regional balances, and Jordan is a strategic extension of Iraq towards the Arab East, while the openness to Bahrain and Kuwait reflects Baghdad’s desire to strengthen trust with the Gulf environment, while Lebanon acquires special importance due to its position in the equation of the Iranian-Israeli conflict and the possible transformations in the post-war phase.
He affirms that strengthening bilateral relations does not conflict with Iraq’s ambition to participate in shaping the arrangements for the next phase. Rather, the two paths are complementary. However, moving to an influential regional role requires having an independent security decision, controlling armed factions, and providing guarantees to neighboring countries that Iraq will not become an arena for conflicts again.
He adds that the challenge lies not so much in expanding the diplomatic presence as in Baghdad’s ability to translate it into real political influence and sustainable strategic partnerships, noting that being absent from the moment of reshaping the balances may put Iraq in front of arrangements in whose formulation it does not participate.
For his part, writer and political analyst Ihab Al-Kayali, from Turkey, believes that Al-Zaidi’s tours reflect an Iraqi trend to reposition Baghdad on the political and regional map, and to move from the position of a state affected by conflicts to the position of a party participating in formulating future understandings and arrangements.
Al-Kayali tells Shafaq News Agency that the transformations imposed by the war and regional tensions may lead to a reshaping of alliances, energy, trade and security corridors, which gives Iraq special importance given its geographical location that makes it a link between the Gulf, the Levant, Turkey and Iran.
He adds that these geographical, economic and political factors qualify Iraq to play a pivotal role in any future regional arrangements, but the success of this approach remains conditional on unifying national decision-making, strengthening sovereignty and building trust with Arab countries, in addition to maintaining balanced relations with the various regional powers.
He points out that the challenge facing Baghdad is no longer limited to restoring its Arab relations, but is related to moving from a policy of balancing between axes to actual participation in creating new regional balances.
Regarding relations with neighboring countries, Jordanian political analyst Hazem Ayad interprets these moves as an Iraqi attempt to break free from the stagnation and tension that has plagued Baghdad’s relations with its Arab surroundings, especially after the events of October 7, 2023 in the Gaza Strip, and the subsequent escalation that extended to several regional fronts, culminating in the war on Iran.
Ayad told Shafaq News Agency that the Iraqi government is seeking to address the accumulation of crises and rounds of escalation, and to open up to Arab countries through the gateways of economy and trade, and to develop diplomatic relations and security coordination, in a way that helps to contain tensions and keep Iraq away from the repercussions of conflicts.
He points out that these efforts have received a positive response from Arab countries, especially Saudi Arabia and Syria, but at the same time they face a state of anticipation and reservation, in light of previous experiences of Iraqi governments, including the governments of Haider al-Abadi, Mustafa al-Kadhimi and Mohammed Shia al-Sudani, which in turn sought to promote Arab openness.
He adds that neighboring countries are waiting for practical measures in the security and economic files, and that the continuation of these tours and their results on the ground will be the main criterion for assessing the seriousness of the Iraqi approach.
Ayad emphasizes that the diplomatic challenge facing al-Zaidi is significant, especially in light of the repercussions of the escalation between Washington and Tehran, the American restrictions on Iraq’s relations with Iran, as well as the security and economic requirements that countries in the region are setting to develop their relations with Baghdad.
He points out that the success of this path requires the sustainability of Iraqi action, and not being satisfied with visits and meetings, but rather translating them into practical steps that give a boost to relations with neighboring countries, including Türkiye.
In the same context, Jordanian political analyst Adel Al-Ashram believes that Al-Zaidi’s moves reflect a trend towards returning Iraq to its Arab strategic depth, after years of relative distancing from this path since 2003.
Al-Ashram told Shafaq News Agency that these moves come in light of the changes taking place in the region, especially the American-Israeli war with Iran, and the existing ties between some armed factions inside Iraq and Tehran, and the challenges they pose to Baghdad’s relations with its surroundings.
He points out that the American moves in this file place the Iraqi government in front of the responsibility of dealing with the factions that operate outside the scope of the army and police, at a time when Baghdad is facing demands related to disarming them, as well as the repercussions of the sanctions and restrictions imposed on Iran.
Al-Ashram classifies the Iraqi moves into two tracks; the first includes the countries bordering Iraq, and the second is directed towards the Arab countries that do not share direct borders with Iraq, considering that these tours reflect an attempt to build a common Arab vision to confront future challenges, instead of dealing with them individually.
As for the practical objectives, Iraqi political analyst Ziad Al-Arar links these visits to attempts to repair relations between Iraq and Arab countries, especially after the repercussions of the war on Iran and the accusations leveled against Iraq regarding targeting Arab countries, including Saudi Arabia.
Al-Arar told Shafaq News Agency that the moves aim to correct the course of Arab relations and prepare Iraq to play a more effective regional and international role, in addition to expanding its economic openness and diversifying its oil and energy export outlets, after recent developments showed the importance of not relying on a single export route.
He adds that strengthening trade and economic cooperation with Saudi Arabia, Jordan and Syria is a key aspect of these tours, allowing for the expansion of common interests and opening new areas for bilateral partnership.
In contrast, Al-Arar points to the existence of regional and international opposition and challenges, including the positions of parties close to Iran who do not see any benefit for Iraq in completing this opening, but he confirms in conclusion that Al-Zaidi’s government is proceeding with strengthening its diplomatic and economic policy.
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Iraq introduces new discounts on Basra crude oil prices
Iraq introduces new discounts on Basra crude oil prices
Iraq’s State Oil Marketing Organization (SOMO) announced on Monday a reduction in the official selling prices of Basra Medium and Heavy crude oil destined for Asian markets during the month of December.
The company set the price of Basra Medium crude at a discount of $8.80 per barrel, compared to the average prices of Oman and Dubai crude during the previous month, according to Reuters.
It also set the price of Basra Heavy crude at a discount of $11.80 per barrel, compared to the prices of Oman and Dubai crude.
Global oil markets are heading into a new phase of uncertainty, awaiting the course of the confrontation between the United States and Iran, and whether the next phase will witness an agreement that eases tensions or a military escalation that exacerbates supply disruptions, at a time when Iraq and the Gulf states are facing the repercussions of the cessation of large quantities of oil production.
Iraqi Foreign Minister Fuad Hussein reiterated on Sunday that Iraq had incurred financial losses estimated at around $60 billion due to the halt in oil exports through the Strait of Hormuz for approximately four months because of the war and regional tensions.
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The Christian alliance supports Barzani’s initiative and calls for guaranteeing the rights of all communities.
The Christian alliance supports Barzani’s initiative and calls for guaranteeing the rights of all communities.
The Christian Alliance announced on Monday its support for the initiative of Kurdish leader Masoud Barzani aimed at ending the political crisis in the Kurdistan Region and forming a broad-based government, calling on political forces to respond to it and reach a national agreement that guarantees unity and the activation of institutions.
The alliance said in a statement received by Shafaq News Agency that it welcomes Barzani’s call for dialogue, ending the political crisis, and forming a broad national government, stressing that the interest of the people of Kurdistan and the preservation of its entity and institutions is a shared responsibility that takes precedence over partisan interests and political differences.
He called on all political forces to support the initiative and respond to the call for dialogue, and to translate it into a national agreement that strengthens unity, activates institutions, meets the aspirations of citizens, and preserves the constitutional and legal entity of the region.
The coalition stressed that the national partnership is completed by guaranteeing the rights of the original components, foremost among them the Christian Chaldean, Assyrian, Syriac and Armenian components, and by guaranteeing their representation and fair partnership in the government and decision-making institutions, and preserving their right to choose their representatives.
He reiterated his demand to restrict voting for the Christian quota seats to Christian voters in the Kurdistan Region and Iraq, stressing that the rights of the Christian component are a basis for partnership and should not be subject to political bargaining. Iraqeconomic reports
The alliance also praised Barzani’s positions, considering that his leadership of the region during the sensitive stages of its modern history contributed to protecting its components, the unity of its political forces, and preserving its lands and the constitutional rights of its people.
Earlier today, Barzani called on the Patriotic Union of Kurdistan to sit down with the Kurdistan Democratic Party to resolve the disputes and put an end to the political crisis, demanding the participation of the rest of the forces in forming an expanded government that meets the needs of the region’s residents .
The initiative came amid ongoing political disputes, following the resumption of the Kurdistan Region Parliament’s work on November 4 and the election of its leadership with the attendance of 52 deputies, amid a boycott by the Patriotic Union of Kurdistan, the New Generation Movement and other political forces.
The Patriotic Union, led by Bafel Talabani, had announced its withdrawal from the regional government and its non-recognition of the parliamentary session and its outcomes, considering that the measures taken were not based on a real political consensus.
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Oil prices are heading for weekly losses of around 12% despite Middle East supply concerns.
Oil prices are heading for weekly losses of around 12% despite Middle East supply concerns.
Oil prices are heading for a sharp weekly decline of about 12%, amid expectations that the war with Iran will subside following the election losses suffered by US President Donald Trump’s party, and amid continued concerns about oil supplies from the Middle East region.
Brent crude futures for January delivery rose $1.57, or 1.6%, to $99.86 a barrel on Friday, while U.S. West Texas Intermediate crude climbed $1.10, or 1.22%, to $91.62 a barrel, marking gains for both benchmarks for the second consecutive day.
Despite this rise, Brent crude is heading for weekly losses of about 12%, while forecasts indicate that West Texas Intermediate crude will decline by approximately the same percentage, following a wave of declines in the markets over the past few days.
The price pressures came after the results of the US midterm congressional elections, in which the Democrats made gains at the expense of the Republicans, amid expectations that the political shifts would lead to a calming of the US-Israeli war against Iran, which has entered its ninth month. FollowPolitics
Oil prices had fallen by about 8% on Wednesday alone, settling at their lowest level in two months, amid growing expectations of easing geopolitical tensions.
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