Iraq's Oil Minister Says Iraq's Oil Exports Average 3.42M Barrels/Day In August; Iraq's August Average Oil Price Per Barrel $83.35
Portfolio Pulse from Happy Mohamed
Iraq's Oil Minister has announced that the country's oil exports averaged 3.42 million barrels per day in August, with the average oil price per barrel being $83.35.
September 01, 2023 | 7:53 pm
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NEUTRAL IMPACT
The United States Oil Fund (USO) could be impacted by the news of Iraq's oil exports and prices, as it tracks the price of oil.
The United States Oil Fund (USO) is an exchange-traded fund (ETF) that aims to track the price of West Texas Intermediate (WTI) light, sweet crude oil. As such, any significant changes in global oil prices or supply can impact the performance of USO. In this case, the news about Iraq's oil exports and prices could potentially influence the price of oil and, consequently, the performance of USO. However, the exact impact will depend on a variety of factors, including how the market interprets this news and other global oil market dynamics.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75