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Economist: no justification for fears of a drop in oil prices
11/23/2014 0:00
BAGHDAD - Hussein Tgb
Reduce economist Ahmed Abrihi oils from the impact of low prices in world markets on the economy of Iraq.
He Abrihi "morning" on the sidelines of a seminar Institute of progress for Development Studies said the agreement with the Kurdistan Regional be positive and signed by the financial distress experienced by the country, pointing out that the export of 150 000 barrels, as well as 250-300 thousand barrels another issue of Kirkuk oil through Kurdistan will be awarded general budget of more revenue granted more flexibility in the operational and capital expenditures, and reiterated that no justification for pessimism due to the descent of oil prices.
He noted that Iraqi oil exports through all export ports in the south and the north through the Turkish port of Ceyhan will achieve $ 76 billion in light of the expected oil prices and this enables the government to run the country to the fullest.
He noted that the Ministry of Finance claim management of the financial resources required manner that achieves the economic viability of the country.
In the meantime, oil prices rose and posted its first weekly gain in two months, and returned the price of Brent crude to above $ 80 a barrel, with the support of reducing China's interest rates and speculation that OPEC may agree next week to cut production Alinvt.obhsp Reuters Brent $ 1.03 to $ 80.36 a barrel at the settlement after jumping earlier in the $ 2.28 to $ 81.61 a barrel. US crude rose 66 cents to $ 76.51 a barrel at the settlement after he ascended to the highest level in the session to $ 77.83 a barrel. Brent rose 95 cents, or about 1.2 percent during the week to score his first weekly gain after record losses over the eight weeks of crude Mttalah.uzad 69 US cents, or one percent during the week after losses for seven consecutive weeks.
And reduce China's central bank on Friday, the standard interest rates for the first time in more than two years to reduce borrowing costs and boost the economy, which is heading towards a slower annual growth in 24 years.
And boosted interest atmosphere of optimism among oil's customers who expect that the Organization of Petroleum Exporting Countries agree Petroleum in November 27 to cut production in a bid to boost crude prices cut.
Spin growing speculation that OPEC will cut production to halt the collapse of the market in which crude oil prices lose about 30 percent since June.
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11/23/2014 0:00
BAGHDAD - Hussein Tgb
Reduce economist Ahmed Abrihi oils from the impact of low prices in world markets on the economy of Iraq.
He Abrihi "morning" on the sidelines of a seminar Institute of progress for Development Studies said the agreement with the Kurdistan Regional be positive and signed by the financial distress experienced by the country, pointing out that the export of 150 000 barrels, as well as 250-300 thousand barrels another issue of Kirkuk oil through Kurdistan will be awarded general budget of more revenue granted more flexibility in the operational and capital expenditures, and reiterated that no justification for pessimism due to the descent of oil prices.
He noted that Iraqi oil exports through all export ports in the south and the north through the Turkish port of Ceyhan will achieve $ 76 billion in light of the expected oil prices and this enables the government to run the country to the fullest.
He noted that the Ministry of Finance claim management of the financial resources required manner that achieves the economic viability of the country.
In the meantime, oil prices rose and posted its first weekly gain in two months, and returned the price of Brent crude to above $ 80 a barrel, with the support of reducing China's interest rates and speculation that OPEC may agree next week to cut production Alinvt.obhsp Reuters Brent $ 1.03 to $ 80.36 a barrel at the settlement after jumping earlier in the $ 2.28 to $ 81.61 a barrel. US crude rose 66 cents to $ 76.51 a barrel at the settlement after he ascended to the highest level in the session to $ 77.83 a barrel. Brent rose 95 cents, or about 1.2 percent during the week to score his first weekly gain after record losses over the eight weeks of crude Mttalah.uzad 69 US cents, or one percent during the week after losses for seven consecutive weeks.
And reduce China's central bank on Friday, the standard interest rates for the first time in more than two years to reduce borrowing costs and boost the economy, which is heading towards a slower annual growth in 24 years.
And boosted interest atmosphere of optimism among oil's customers who expect that the Organization of Petroleum Exporting Countries agree Petroleum in November 27 to cut production in a bid to boost crude prices cut.
Spin growing speculation that OPEC will cut production to halt the collapse of the market in which crude oil prices lose about 30 percent since June.
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