IMF analysis says hydrocarbon production offset weaker performance in construction, manufacturing and tourism. The Middle Eastern country has remained resilient despite regional conflicts.
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Oil giant reports higher third-quarter earnings on elevated oil prices, but its CEO warns of a global crisis in the sector amid geopolitical uncertainty and attacks on energy infrastructure.
Brazilian shipments to Algeria totaled USD 1.8 billion through September, up 6.9% from the same period in 2025.
Iraq’s foreign reserves rose from USD 73 billion to nearly USD 80 billion in September and October, according to a statement by a Central Bank spokesperson. Oil exports brought more dollars into the country.
Brazil’s trade surplus reached USD 7.74 billion in September, with stronger exports helping drive the increase. Exports to the European Union rose 60%.
Commodity prices jumped on Monday (14), as the conflict in the Middle East affected transportation and distribution channels.
The country produced 14.8 million barrels of oil in the first half of the year, still far below pre-2011 conflict levels. Foreign partnerships are helping restore infrastructure.
Growth was driven by the non-oil sector, which expanded 4.8% during the period, according to the Qatar Central Bank.
The International Monetary Fund expects Saudi Arabia’s economy to expand despite the conflict in the Middle East, with oil export revenues supported by higher crude prices.
State-run oil firm Petrobras reported record oil and gas production of 3.34 million barrels of oil equivalent per day in the second quarter. Amid the conflict in the Middle East, the company also increased refinery utilization to boost fuel supplies to the domestic market.
In an assessment released Thursday (23), the International Monetary Fund said Brazil’s economy has shown remarkable resilience despite a challenging global environment and is expected to grow 2.4% this year.
As the conflict involving the United States, Israel and Iran threatens tanker traffic through the Strait of Hormuz and the Red Sea, oil prices surged on Thursday (23).
Memorandums of understanding have been signed to advance the construction of a pipeline linking Haditha, Iraq, to Banias, on Syria’s Mediterranean coast, thus creating an alternative route for international oil supplies. The project is expected to be completed within two and a half years.
Prices climbed 5% following renewed attacks in the Strait of Hormuz and threats to impose tariffs on goods.
