Iraq contributed to the recovery of Gulf oil exports during September.

Data from Vortexa and Kpler showed that crude oil and condensate exports from the Gulf countries recovered during September, supported by increased shipments from Saudi Arabia, the UAE and Iraq. IraqBanking Reforms

According to Kpler, total exports of crude oil and condensates from Saudi Arabia, the UAE, Iraq, Oman, Kuwait, Qatar and Iran rose to about 14.7 million barrels per day in September, compared to 10.8 million barrels per day in August.

Saudi Arabia led the increase, with its shipments rising to 6.6 million barrels per day from about 4.2 million barrels per day in August, while exports from the UAE and Iraq also increased, partially offsetting the decline in exports from Kuwait and Qatar and the halt in Iranian exports.

Vortexa data showed crude oil and condensate flows rising to 91% of pre-war levels of 16.3 million barrels per day, while exports of refined fuels and liquefied petroleum gas remained at 60% of pre-war levels.

Shafaq.com

Economic warning regarding MPs’ statements: They will increase market and dollar instability in Iraq.

Economic expert Abdul Rahman Al-Mashhadani predicted on Tuesday that the exchange rate of the dollar in the parallel market may exceed the 160,000 dinar mark per 100 dollars, given the continued high demand for foreign currency and conflicting statements regarding monetary policy and the exchange rate.

Al-Mashhadani explained in an interview with Shafaq News Agency that it is not surprising that the dollar exceeded the 160,000 mark, at a time when a member of the Finance Committee is stating that the exchange rate is fixed at 150,000 dinars, while another member is talking about changing the currency, and another about removing zeros, which are files that are not within the jurisdiction of the members of parliament.

He added that continuing such statements does not serve market stability, but rather increases uncertainty among citizens and those dealing in dollars, noting that the market is quickly affected by any talk related to the exchange rate or currency.

Al-Mashhadani continued, saying that the demand for the dollar remains high, especially from travelers and traders who do not want to import through the ASYCUDA system, which keeps the demand for foreign currency in place and puts additional pressure on the exchange rate in the parallel market.

Shafaq.com

Iraq ranks 28th globally in foreign currency reserves at $85 billion.

Iraq ranked 28th globally among the countries with the largest foreign exchange reserves out of 30 countries listed in the table, with a total of about $85 billion, according to a ranking published by the Canadian website “Visual Capital East” based on the latest data from the International Monetary Fund. IraqBanking Reforms

According to the ranking, Iraq came after France, which ranked 27th with reserves of $86 billion, and before Romania, which ranked 29th with $78.2 billion, while Turkey came in 30th and last place with $76.6 billion.

China topped the list with reserves of $3.41 trillion, followed by Japan with $1.259 trillion, then Switzerland with $932.3 billion, Taiwan with $602.5 billion, and India with $543 billion.

In the Arab world, Saudi Arabia came in sixth place globally with reserves of $458.6 billion, and the UAE in 12th place with $251.4 billion, while Iraq came in third place among the top thirty countries with the largest reserves.

The classification, based on data from the International Monetary Fund’s International Reserves and Foreign Exchange Liquidity Database, indicated that foreign exchange reserves are a key tool for coping with economic shocks, supporting currency stability, financing imports, and servicing external debt.

The classification excludes gold from foreign exchange reserves and is based on the most recent reporting periods available between mid-2025 and the second quarter of 2026.

Shafaq.com

Iraqi oil replaces Iranian oil in Chinese refineries

Reuters revealed on Tuesday that independent Chinese refineries have increased their purchases of Iraqi and Qatari crude oil for October and November shipments to compensate for declining Iranian supplies, coinciding with the recovery of exports from other Gulf producers through the Strait of Hormuz. IraqBanking Reforms

The agency quoted traders in a report translated by Shafaq News Agency as saying that Chinese refineries bought at least 12 million barrels of Iraqi and Qatari crude through oil trading companies Mercuria, Totsa and Trafigura, while one trader estimated the total purchases at between 15 and 20 million barrels.

According to the sources, the shipments were sold at premiums ranging between $12 and $20 per barrel above the price of Brent crude on the Intercontinental Exchange (ICE), on a delivery basis, and the majority of the purchases were of Basra Medium and Basra Heavy crudes, which are among the cheapest types of crude available in the Middle East.

The list of buyers included Hongren Petrochemical, Chi Cheng Petrochemical, Chi Run Petrochemical, Halong, and Chambrod Petrochemical, according to sources.

One trader said that Iraqi oil has become the “new standard” for independent Chinese refineries, due to the abundance of supplies and the speed with which they are available.

Hongren and Shinqi Petrochemical also purchased 3 million barrels of Qatari Al Shaheen crude, with shipments expected to arrive in early November, according to sources.

According to Reuters, independent Chinese refineries have relied heavily in recent years on discounted crude from sanctioned producers, particularly Iran, but China’s imports of Iranian oil fell in September by about half compared to the previous year, to 590,000 barrels per day, the lowest level since January 2023, according to data from analytics firm Kpler.

The volume of Iranian crude stored on tankers outside the blockade zone has fallen by more than half, to 45 million barrels, compared to 100 million barrels in late July, according to Kpler.

The company’s data showed that Iran did not export any crude oil during September, for the first time since Kpler began tracking Iranian oil flows in 2013.

As oil exports through the Strait of Hormuz recovered, trading companies lowered their bid prices to stimulate demand from independent Chinese refineries, with one trader saying buyers were no longer willing to pay spot premiums exceeding $20 a barrel.

Refinery operating rates in Shandong province fell to around 55% by the end of September, compared to around 60% at the beginning of the month, according to Horizon Insights consultancy, as refining margins deteriorated after China curbed fuel price increases, coinciding with rising crude costs.

Company data showed that refineries were incurring losses of between 250 and 500 yuan ($37.29 and $74.58) per metric ton in late September, compared with profits of around 500 yuan per ton at the beginning of the month.

Shafaq.com

Parliamentary Finance Committee: Employee salaries are secured and the Central Bank’s reserves cover the deficit.

The Parliamentary Finance Committee confirmed on Tuesday that employee salaries are secured and that the Central Bank has a reserve sufficient to cover the deficit. The committee indicated that the economic situation is improving and that oil export and sales figures are good. Committee member Ikhlas al-Dulaimi told the official news agency that Prime Minister Ali al-Zubaidi’s intensive meetings in New York could pave the way for a breakthrough in some financial matters. She explained that the United States has allowed oil to pass through the Strait of Hormuz, but Iran has not yet granted permission.

She added that “employees’ salaries are secured, and there is a reserve within the Central Bank in case of any deficit, funding will be provided,” noting that “the country’s economic situation has begun to improve in oil sales.”

She also pointed out that “oil export rates are good, even though companies take oil from the government and export it at their own risk and bear the consequences of exporting in case of risks, but they deduct from the barrel from $15 to $30 per barrel.”

Burathanews.com

Parliamentary services: No more delays in deciding on top executive positions

MP Mohammed al-Shammari, from the Parliamentary Services Alliance, confirmed on Monday that there is intensive parliamentary and political activity underway to finalize the cabinet formation. He revealed that the coming days will see the vacant ministerial posts filled and their nominees presented to Parliament.

Al-Shammari told the Information Agency that “the ongoing consultations and understandings between national forces and influential parliamentary blocs have reached their final and advanced stages after overcoming obstacles and resolving points of contention regarding the candidates nominated to fill the remaining ministerial positions, based on criteria of competence and merit.”

He added that “next week will be decisive in closing this stalled file permanently by including the vote on the remaining cabinet positions on the agenda of the House of Representatives sessions, granting them confidence and allowing them to proceed with managing the affairs of the state.”

Al-Shammari explained that “the current agreements pave the way for a comprehensive governmental and institutional stability that will positively impact the overall situation in the country,” noting that “the current stage is sensitive and cannot tolerate further procrastination or delay in filling senior executive positions.”

He emphasized that “the current economic reality and service-related challenges require the presence of competent ministers who possess full constitutional and legal authority to make strategic decisions, support the precise implementation of the government program, and expedite the completion of vital development projects that directly affect the daily lives of citizens.”

Almaalomah.me

160,000 dinars to the dollar… The parallel market reasserts its authority in Iraq.

The dollar exchange rate in the parallel market in Iraq has exceeded 160,000 dinars per 100 dollars, in a scene that brings back to the forefront fears of the widening gap between the official price and the market price, coinciding with talk of the arrival of new shipments of the American currency to the country, amid questions about the ability of dollar liquidity to calm the market and curb speculation. DinarInvestment Advice

The data indicates that the official price remains at 1,320 dinars per dollar in official transactions, while its price in the parallel market, as of Monday evening, exceeded 160,000 dinars per 100 dollars, amid a wide gap between the two prices that reflects the continued pressure on the exchange market.

Reasons for the rise: speculation, anxiety, and delayed remittances

In an interview with Shafaq News Agency, economist Ali Daadoush said that speculation and uncertainty, along with delays in official transfers through banks and increased demand for dollars to finance imports from Iran, are the main reasons for the current and fluctuating rise in the exchange rate.

Daadoush added that the uncertainty includes traders, importers and citizens who hold dinars, due to fears of a possible change in the exchange rate in the 2027 general budget, indicating that these factors collectively put pressure on the dollar in the parallel market.

He explained that the dollar traded in the parallel market comes to a large extent from the currency that the central bank sells to citizens for travel, study and treatment purposes, and then part of it returns to the local market after it is sold, which is known as the “reverse dollar” or “return dollar”.

He pointed out that the demand for the dollar has become much greater than the supply of it in the market, which is driving prices up and increasing the state of volatility.

Banks: Shipments alone are not enough

For his part, Nabil Al-Abadi, director of Al-Ittihad Bank, told Shafaq News Agency that the movement of the exchange rate in the parallel market is linked to a set of factors, foremost among them the level of demand for the dollar and the size of its supply, as well as the nature of transactions and transfers that take place outside official banking channels.

He explained that the arrival of new shipments of dollars to official channels could contribute to supporting cash liquidity, but its impact on the parallel market depends on the speed of its entry into the market and the extent to which it reaches those who actually demand the currency.

He pointed out that addressing the gap between the official and parallel exchange rates is not only related to injecting dollars, but also requires strengthening the role of the banking sector and facilitating access for dealers to foreign currency through official channels, thereby reducing the need for the parallel market.

What does the central bank’s data say?

According to data from the Central Bank of Iraq, foreign reserves fell to $80.633 billion by the end of July 2026, compared to $97.432 billion at the end of last year, a decrease of about $16.8 billion, or approximately 17.2 percent, over seven months.

In contrast, the Central Bank confirmed in a statement issued on September 19 that its foreign reserves are sufficient to meet the demand for foreign currency to finance foreign trade, settle bank cards and travelers’ requests at the official rate, attributing the current rise in the exchange rate to speculation, expectations and exploitation of the geopolitical conditions in the region.

From Kurdistan: Warning against fixing the dollar at 150,000

The concern is not limited to Baghdad. Jabbar Goran, spokesman for the currency exchange market in Sulaymaniyah in the Kurdistan Region, warned of potential negative repercussions if the Iraqi government proceeds to fix the dollar exchange rate at 150,000 dinars, suggesting that this rate will not be adopted in the general budget.

Goran said during a press conference attended by Shafaq News Agency, “The reaction of citizens and the market will be very negative and bad if the Iraqi government fixes the price of the dollar at 150,000 dinars,” adding: “Therefore, I believe that the price of the dollar will not be fixed in the budget at this level.” DinarInvestment Advice

He also expressed his surprise at the remarks made by a member of parliament regarding the possibility of amending the dollar exchange rate, noting that this matter falls within the jurisdiction of the Central Bank of Iraq.

He said: “It is strange to me that a member of parliament would talk about adjusting the dollar exchange rate, as this matter is only within the powers of the Central Bank.”

A true test for the central bank and the government

Observers believe that psychological factors and future expectations have become an influential part of market movement, as the expectation of a rise in the dollar’s price prompts some traders to increase their demand for it in anticipation of any change, which may create additional demand that raises the price and increases the gap.

The continued difference between the official and parallel exchange rates creates an incentive to seek dollars outside official channels, which makes addressing the gap dependent on the banking system’s ability to provide dollars regularly and transparently to legitimate demand, and not just by increasing supply.

The current situation puts the central bank and the government to a real test. Increasing dollar liquidity may provide some relief to the market, but it will not be enough on its own if the factors that fuel demand and speculation remain in place.

The most prominent question remains: Do the new dollar shipments represent the beginning of a path that will calm the market and reduce the gap, or will the parallel market absorb this liquidity and rise again? The answer will largely depend on the ability of official channels to meet demand and enhance confidence in the stability of the exchange rate, and on the decisions that the 2027 budget will contain regarding the exchange rate.

Shafaq.com

Today, a framework meeting will be held to resolve three issues, with the participation of Al-Zidi and the Minister of Finance.

An informed source said on Monday that the leaders of the Coordination Framework will hold a meeting in the presence of the Prime Minister and the Minister of Finance to discuss the vote on completing the government cabinet and next year’s budget.

The source added to Shafaq News Agency that ” the leaders of the coordination framework are holding a meeting this evening in the presence of Prime Minister Ali al-Zubaidi in order to discuss completing the file of restricting weapons to the state, and completing the ministerial cabinet and voting on it at the end of this week or the beginning of next week.” FinancialNews Reports

He added that “the meeting will also include hosting Finance Minister Faleh Sari in order to discuss the 2027 budget bill and related financial and economic issues, which have a political aspect.”

The Coordination Framework, in an emergency meeting last Friday night, confirmed that June 30, 2027 is the agreed deadline for implementing the constitutional article concerning the handling of the weapons issue, calling on all parties to commit to a comprehensive truce .

An informed source revealed to Shafaq News Agency that the State of Law Coalition, led by Nouri al-Maliki, has officially nominated Yasser Sakheel for the Ministry of Interior portfolio, and Haider Bahaa, who currently serves as Dean of the College of Pharmacy at Al-Nahrain University, for the Ministry of Higher Education portfolio.

Shafaq.com

Iraq resumes direct flights to Iran on Thursday

Iraqi Airways announced on Monday that the national carrier will resume direct flights to Iran starting next Thursday, October 8, 2026.

The company’s management stated in a statement received by Shafaq News Agency that the new operating plan includes regular daily flights between Najaf International Airport and the airports of Mashhad, Tehran and Isfahan, which contributes to enhancing the smooth flow of passenger traffic and providing regular air transport options between Iraq and Iranian cities.

The resumption of flights comes after air traffic between Iraq and Iran was halted due to new US sanctions targeting the Iranian aviation sector, which prompted ground service companies at a number of Iraqi airports to refrain from dealing with Iranian airlines for fear of being subjected to sanctions, leading to the suspension of flights.

On September 29, the Iraqi Ministry of Transport announced that Iraqi Airways had obtained a special exemption from US sanctions allowing it to resume flights to Iran, with operations to begin from Najaf International Airport after completing the regulatory and technical requirements.

Shafaq.com

No session on Thursday… “Vacant Ministries” meeting today and “State Administration” meeting tomorrow

The Iraqi parliament has postponed a session scheduled for next Thursday to complete the cabinet formation until next week.

According to an informed source who spoke to Shafaq News Agency, the postponement came as a result of ongoing disagreements over the candidates for the ministries of Labor and Social Affairs, Youth and Sports, and Planning, Reconstruction and Housing.

The source explained that “the Kurdistan Democratic Party is insisting on nominating Rebaz Hamlan for the Ministry of Reconstruction and Housing, as

He will put forward his party’s candidate for the position of fourth deputy prime minister.”

According to the source, the coordination framework will hold a meeting today to discuss the issue of completing the government, while the State Administration Coalition will also hold a meeting tomorrow to discuss the same issue.

In this context, MP Badr Al-Fahhal stated that the political blocs have nominated names to fill the vacant ministerial portfolios, and that the ball is now in Prime Minister Ali Al-Zidi’s court to choose the candidates and send their names to the House of Representatives for a vote and to grant them confidence.

According to Al-Fahl, who spoke to Shafaq News Agency, there is no specific date yet for holding a session of the House of Representatives to grant confidence to the candidates.

An informed source revealed to Shafaq News Agency yesterday, Sunday, that the State of Law Coalition, led by Nouri al-Maliki, officially nominated Yasser Sakheel for the Ministry of Interior portfolio, and Haider Bahaa, who currently serves as Dean of the College of Pharmacy at Al-Nahrain University, for the Ministry of Higher Education portfolio.

The leaders of the coordination framework will meet this evening, in the presence of the Prime Minister and the Minister of Finance, to discuss the vote on completing the government cabinet and next year’s budget.

Shafaq.com