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Jubouri adviser for Energy: OPEC decision to cut production after the Iraqi economy would hurt
Tomorrow Press / Baghdad: The head of the House of Representatives for Energy Ali Fayad, Sunday, that the adviser's decision by OPEC not to cut production below 31 million barrels would hurt the Iraqi economy, while experts predicted that the decision was politically files.
He said Fayad for "tomorrow Press" that "Iraq depends mainly by the largest on the export of crude oil to strengthen the budget and develop its economy in light of the decline in oil prices had to be to be there designed specific energy supports the export of Iraq's oil, but the recent decision to OPEC not to cut the roof production of the members will cause a loss to Iraq. "
He said Fayad, "The Iraqi government, specifically the Ministry of Oil and laid out plans for export Alkimat sufficient to fill the loss with the decline of prices," noting that "the organization and as issued by the data about it confirmed that not to cut production below 31 million barrels came because undermine oil production rock in America and rejected Arabia's decision to cut production. "
For his part, noted expert in the oil Affairs Maged Hamza Kikhany for "tomorrow's Press," that "OPEC's decision is the process of pressure on the number of members, including Russia, Iran and out of the United States and Saudi Arabia, making the most of the members did not agree on a resolution Khvz production", pointing out that "the decision certainly has a great economic consequences will be harmed by the states need money to promote economic growth, including Iraq."
OPEC decided not to cut production of 31 million barrels, after Saudi Arabia rejected the biggest exporter in the OPEC production cuts, making this decision cause of low oil prices to $ 66.
He specialized oil prices investing site, that the price of a barrel of oil after the OPEC decision came to $ 66.06, indicating a decline below this price in the next few days.
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