AGP Executive Report
Last update: 9 hours agoIraq Energy Security: Iraq says it’s moving ahead with a strategic floating LNG project at Khor Al-Zubair, using imported gas to power plants during peak demand and stabilize the grid, with American firms expected to play a role. Oil Market Shockwatch: The World Bank warns Iraq’s economy is highly exposed to commodity swings, with oil-driven revenues making fiscal stability vulnerable as growth is projected to weaken further. Central Bank Watch: Iraq’s foreign reserves fell again in Q2 2026, dropping to about $90.8bn by May 28, continuing a downward trend. Trade & Refining Pressure: Iraq’s oil product exports dropped in Q1 2026, reflecting ongoing reliance on imports for some refined fuels despite refinery expansion plans. Regional Deal Spillover: As the US-Iran interim framework moves toward a June 19 signing and Hormuz reopening, Goldman Sachs expects Hormuz flows to recover only to around 70% of pre-war levels—meaning Iraq and other Gulf producers may still face supply and pricing volatility.
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