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Parliament excludes the oil drop to $ 40 and does not preclude the possibility of recourse to the reserve currency
Range/Baghdad
The parliamentary Energy Commission, confirmed the existence of multiple government measures to prevent a possible drop in oil prices to under $ 50. The sources did not rule out the use of Central Bank reserves or borrowing from private banks, as described within the price drop $ 40 as a "global catastrophe", ruled out that scenario expected return of prices to rise again.
The course emphasizes the Economic Adviser to the Prime Minister that the Government Commission charged with reviewing budget 2015 "will take all the prospects of oil prices", expected to discuss the draft budget proposed Cabinet next week.
Oil prices dropped more than a dollar on Monday after Morgan Stanley cut its forecast for the price of Brent crude, while contributing to Chinese trade data that came in to support the market.
Reuters quoted Morgan Stanley, one of the largest banking institutions in the United States, saying in a recent report, "in the absence of intervention by OPEC faces the market risk of imbalance with the possible arrival of increase before peaking in the second quarter of 2015", Reuters said that the "worst is estimated to fall to 43 dollars in the second quarter of next year."
Says Aziz Al-uqaili, Member of the Parliamentary Committee on oil and energy to "the range", "the price of Iraqi oil sold under published in global markets with ten dollars" and acknowledged that "one of the reasons for the delay in approving the budget due to oil price fluctuations."
Adds Al-uqaili, a member of the parliamentary block of the citizen, that "the issue of restricting the public budget with a specific price per barrel has become difficult because of the constant changes in oil prices," Noting that "Iraq faces a serious challenge to the adoption of the budget on oil revenue is 95%".
And leadership of the Supreme Council for the projected decline by saying "If the oil prices below $ 50, also expects global institutions, we will be unable to pay even the salaries of government employees," he said, "in such scenarios may be resorting to the use of Central Bank reserves, which is estimated at 77 billion dollars, earmarked for emergencies."
World oil prices fell in November to its lowest level since May 2010, after OPEC decided not to cut production, leaving ample supplies in the market.
And member of the parliamentary oil and energy to "alternatives available and we have a resort to borrowing from private banks" and felt that "the Government is able to overcome any economic crisis expected to occur over the coming months."
But Deputy Aziz Al-uqaili excludes oil prices fall 43 dollars a barrel in the next year, they returned to "what we are seeing continuing decline of world prices is normal has happened in prices in 2009."
In turn expects Kawa Mahmoud, a member of the Parliamentary Committee on oil and energy, the price of a barrel of oil to $ 60, but it was likely to rise during the coming period due to the needs of the winter.
Kawa Mahmoud, described in the "range", world oil prices drop to $ 40 that it "would be a disaster for the world economy, not Iraq," he said, adding "the difficulty of forecasting international oil prices because it is bound in oil policy."
In the same vein, Dr. Mohammad Saleh appearance attributes, economic adviser to the Prime Minister, causes oil prices to "rock oil production in the United States by about 1 million barrels per day to be offset by reduced demand for oil extracted in the traditional ways."
Saleh said, in a statement to "the range", "the rock began production offset a part of America's oil consumption, because they are produced in quantities of about 5 million barrels a day."
Stresses the Economic Adviser to the Prime Minister on the need to rebuild oil stocks in line with consumer demand for oil which reaches 93 million barrels have ", but ruled out" a drop in oil prices below 50 dollars next year. "
Mohammad Saleh appearance suggests that "export and increase oil production to meet the shortage of low price," he said, adding a Government handlers to declines in the price of a barrel of oil.
Iraqi Economist calls "the five-Member Committee, which includes a number of current and former Ministers and experts in the field of oil and finance, to amend the draft law on the federal budget for the year 2015, for all possibilities in oil prices", predicting that "the federal budget is presented to the Cabinet next week to view for discussion."
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Range/Baghdad
The parliamentary Energy Commission, confirmed the existence of multiple government measures to prevent a possible drop in oil prices to under $ 50. The sources did not rule out the use of Central Bank reserves or borrowing from private banks, as described within the price drop $ 40 as a "global catastrophe", ruled out that scenario expected return of prices to rise again.
The course emphasizes the Economic Adviser to the Prime Minister that the Government Commission charged with reviewing budget 2015 "will take all the prospects of oil prices", expected to discuss the draft budget proposed Cabinet next week.
Oil prices dropped more than a dollar on Monday after Morgan Stanley cut its forecast for the price of Brent crude, while contributing to Chinese trade data that came in to support the market.
Reuters quoted Morgan Stanley, one of the largest banking institutions in the United States, saying in a recent report, "in the absence of intervention by OPEC faces the market risk of imbalance with the possible arrival of increase before peaking in the second quarter of 2015", Reuters said that the "worst is estimated to fall to 43 dollars in the second quarter of next year."
Says Aziz Al-uqaili, Member of the Parliamentary Committee on oil and energy to "the range", "the price of Iraqi oil sold under published in global markets with ten dollars" and acknowledged that "one of the reasons for the delay in approving the budget due to oil price fluctuations."
Adds Al-uqaili, a member of the parliamentary block of the citizen, that "the issue of restricting the public budget with a specific price per barrel has become difficult because of the constant changes in oil prices," Noting that "Iraq faces a serious challenge to the adoption of the budget on oil revenue is 95%".
And leadership of the Supreme Council for the projected decline by saying "If the oil prices below $ 50, also expects global institutions, we will be unable to pay even the salaries of government employees," he said, "in such scenarios may be resorting to the use of Central Bank reserves, which is estimated at 77 billion dollars, earmarked for emergencies."
World oil prices fell in November to its lowest level since May 2010, after OPEC decided not to cut production, leaving ample supplies in the market.
And member of the parliamentary oil and energy to "alternatives available and we have a resort to borrowing from private banks" and felt that "the Government is able to overcome any economic crisis expected to occur over the coming months."
But Deputy Aziz Al-uqaili excludes oil prices fall 43 dollars a barrel in the next year, they returned to "what we are seeing continuing decline of world prices is normal has happened in prices in 2009."
In turn expects Kawa Mahmoud, a member of the Parliamentary Committee on oil and energy, the price of a barrel of oil to $ 60, but it was likely to rise during the coming period due to the needs of the winter.
Kawa Mahmoud, described in the "range", world oil prices drop to $ 40 that it "would be a disaster for the world economy, not Iraq," he said, adding "the difficulty of forecasting international oil prices because it is bound in oil policy."
In the same vein, Dr. Mohammad Saleh appearance attributes, economic adviser to the Prime Minister, causes oil prices to "rock oil production in the United States by about 1 million barrels per day to be offset by reduced demand for oil extracted in the traditional ways."
Saleh said, in a statement to "the range", "the rock began production offset a part of America's oil consumption, because they are produced in quantities of about 5 million barrels a day."
Stresses the Economic Adviser to the Prime Minister on the need to rebuild oil stocks in line with consumer demand for oil which reaches 93 million barrels have ", but ruled out" a drop in oil prices below 50 dollars next year. "
Mohammad Saleh appearance suggests that "export and increase oil production to meet the shortage of low price," he said, adding a Government handlers to declines in the price of a barrel of oil.
Iraqi Economist calls "the five-Member Committee, which includes a number of current and former Ministers and experts in the field of oil and finance, to amend the draft law on the federal budget for the year 2015, for all possibilities in oil prices", predicting that "the federal budget is presented to the Cabinet next week to view for discussion."
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