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Economist: Iraq faces an opportunity to maximize oil revenues
April 9, 2023 08:46 1 shares
Information / Baghdad...
Economic affairs specialist, Muhammad Al-Saadi, explained that
Iraq is facing a valuable opportunity to maximize oil revenues by exploiting the reduction in oil production and achieving an increase in prices. Al-Saadi told Al-Maalouma,
"OPEC's decision to reduce production was deliberate, and
its results began to appear in the oil markets through high demand and price increases." He added,
"Iraq will not be affected by the reduction in production,
but rather it will achieve large revenues in light of the high oil prices and exceeding the threshold of $85 a barrel, especially since the budget was prepared at the level of $70 a barrel." And he indicated that
"the demand will rise during the coming period,
especially since America needs to strengthen its stocks after losing a lot of stocks in the last period,
during which it sought to reduce oil prices to $70 a barrel in order to buy it from the producing countries, and
as a result, OPEC's decision will raise oil prices and frustrate them." America's plans to increase the strategic stockpile. ended 25 n
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April 9, 2023 08:46 1 shares
Information / Baghdad...
Economic affairs specialist, Muhammad Al-Saadi, explained that
Iraq is facing a valuable opportunity to maximize oil revenues by exploiting the reduction in oil production and achieving an increase in prices. Al-Saadi told Al-Maalouma,
"OPEC's decision to reduce production was deliberate, and
its results began to appear in the oil markets through high demand and price increases." He added,
"Iraq will not be affected by the reduction in production,
but rather it will achieve large revenues in light of the high oil prices and exceeding the threshold of $85 a barrel, especially since the budget was prepared at the level of $70 a barrel." And he indicated that
"the demand will rise during the coming period,
especially since America needs to strengthen its stocks after losing a lot of stocks in the last period,
during which it sought to reduce oil prices to $70 a barrel in order to buy it from the producing countries, and
as a result, OPEC's decision will raise oil prices and frustrate them." America's plans to increase the strategic stockpile. ended 25 n
[You must be registered and logged in to see this link.]
