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Expert: officials statements on increasing Iraq's oil production has led to the deterioration of oil prices in OPEC
9/4/15
BAGHDAD / Sky Press: called economic expert Abdul Hassan al-Shammari, Thursday, the government to conclude an agreement with a group OPEC countries to reduce oil production to create a balance between supply and demand in the oil, adding that some politicians "irresponsible" on increasing Iraq's oil production has led to comments the deterioration of oil prices in OPEC.
Al-Shammari said for "Sky Press," that "world oil prices trending downward due to increased supply by the OPEC countries, where Saudi Arabia clique that narrowly holds on Iraq and Iran share a day produces about ten and a half million barrels."
He added that "some irresponsible politicians, which is against the Iraqi economy on increasing Iraq's oil production to significant levels remarks make a lot of countries increase oil production, which led to oversupply and thus make oil prices and deteriorating continuously."
He called the economic expert, the oil ministry to "an agreement with the Organization of Petroleum Exporting countries for the purpose of reducing oil production to create a balance between supply and demand to increase the price of oil."
Iraq and many countries in the world is witnessing an economic crisis, as a result of falling oil prices, the global stock market, below $ 48 a barrel, after it was $ 110.
Iraq relies, by 85%, on oil as well as Iran and Russia Almtdharran biggest with Iraq in lower prices, as a result, the Iraqi government was forced to announce, an austere operations, in general in the country in an attempt to fill the budget deficit, as well as the government announced Iraq, reducing the Council of Ministers' salaries 50%.
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9/4/15
BAGHDAD / Sky Press: called economic expert Abdul Hassan al-Shammari, Thursday, the government to conclude an agreement with a group OPEC countries to reduce oil production to create a balance between supply and demand in the oil, adding that some politicians "irresponsible" on increasing Iraq's oil production has led to comments the deterioration of oil prices in OPEC.
Al-Shammari said for "Sky Press," that "world oil prices trending downward due to increased supply by the OPEC countries, where Saudi Arabia clique that narrowly holds on Iraq and Iran share a day produces about ten and a half million barrels."
He added that "some irresponsible politicians, which is against the Iraqi economy on increasing Iraq's oil production to significant levels remarks make a lot of countries increase oil production, which led to oversupply and thus make oil prices and deteriorating continuously."
He called the economic expert, the oil ministry to "an agreement with the Organization of Petroleum Exporting countries for the purpose of reducing oil production to create a balance between supply and demand to increase the price of oil."
Iraq and many countries in the world is witnessing an economic crisis, as a result of falling oil prices, the global stock market, below $ 48 a barrel, after it was $ 110.
Iraq relies, by 85%, on oil as well as Iran and Russia Almtdharran biggest with Iraq in lower prices, as a result, the Iraqi government was forced to announce, an austere operations, in general in the country in an attempt to fill the budget deficit, as well as the government announced Iraq, reducing the Council of Ministers' salaries 50%.
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