USDA reduces global wheat supply estimates, coarse grain output; rice supplies raised on Indian output

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The U.S. Department of Agriculture (USDA) reduced Global wheat supplies are reduced, primarily on lower production forecasts for Kazakhstan and Iraq. Projected 2018/19 world trade is fractionally higher as larger EU and Brazil exports more than offset reductions for the United States and Mexico, it said in its latest World Agriculture Supply and Demand Estimates […]

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Iraq pumping crude oil at record levels, unaffected by domestic protests

Iraq is pumping crude at record levels and the violent street protests that engulfed the oil-rich nation have not affected energy facilities in OPEC’s second-biggest producer. The country’s crude exports reached a record of 3.59 million barrels a day, Oil Minister Jabbar al-Luaibi said after a meeting with representatives of foreign oil companies working in […]

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Almost 3 million bpd supply of crude under threat in 2018, thanks to Venezuela – says Citi

Supply of close to 3 million barrels of oil per day might be in jeopardy mainly due to the worsening economic crisis in Venezuela, Citibank said in a report. Late last year, Venezuela’s government defaulted on millions of dollars’ worth of debt, with larger payments maturing this year. The ability to service billions in debt payments […]

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