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Oil Updates — Crude down; Iraq exports over $115bn of oil in 2022

RIYADH: Oil edged lower on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy. Brent futures for March delivery fell 13 cents to $81.97 a barrel, a 0.1 percent loss, by 0511 GMT. US crude dropped 28 cents, or 0.3 percent, to $76.65 per barrel. Both benchmarks plunged more than 4 percent on
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Apple's stock market value drops below $2 trillion

On Tuesday, Apple Inc's stock market value shrank steeply, following its sharp drop last year, causing it to fall below $2 trillion for the first time since March 2021. The sell-off came after a year when the iPhone maker became the first company to reach the benchmark of $3 trillion market capitalisation. According to Refinitiv Eikon, Apple's shares plummeted by 3.7% to $125.07 after Exane BNP Paribas analyst Jerome Ramel downgraded the company to 'neutral' from 'ou...
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OPEC oil output rises despite production target cuts

OPEC oil output rose in December, a Reuters survey found on Wednesday, despite an agreement by the wider OPEC+ alliance to cut production targets to support the market. Many Nigerian crude streams produced more in December, sources in the survey said, with some companies citing improving security. OPEC+ had been boosting output for most of 2022 as demand recovered.
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