Oil experts expect a decline in the price per barrel to $ 30
Oil experts expect a decline in the price per barrel to $ 30
Posted 10/01/2015 10:03 AM
Oil experts revealed that oil prices will continue to decline to reach the end of the day to $ 30 a barrel, the lowest expected price after the oil boom in which the barrel above $ cent threshold.
They stressed that “the budget before the parliament will be worried and unstable due to the fluctuation of the price of a barrel up and down, but in all cases, will be approved by a large deficit of more than $ 20 billion in all cases, and that this deficit will grow and swell with the expected decline in the price of a barrel. On the premise that the Iraq issue 3 million barrels per day, non-stop, meaning that export lasts for 365 days in a year, the budget deficit will be 23 trillion, or about $ 19.8 billion on the assumption that the price per barrel is 60 dollars, while the total oil imports would be 84 trillion dinars, or the equivalent $ 72.5 billion. ”
He said the expert’s (Orient) that “it is expected that the oil price drop in the coming months to much less than the current price levels, the price today is $ 55 for Brent, the equivalent of 47 Iraqi oil, there are reports of large financial institutions believe that prices could reach $ 40 a barrel and there is another speculation that it may reach to the lowest levels. ” Experts gave schedule includes assumptions for falling price of a barrel and the accompanying budget deficit, according to the following table:
If the average price of oil is $ 60, a deficit of $ 26 billion, or 25 percent. If the average price of oil is $ 55, a deficit of $ 32 billion, or 31 percent. If the average price of oil was $ 50, a deficit of $ 37 billion, or 36 percent. If the average price of oil is $ 40, a deficit of $ 48 billion, or 46 percent. If the average price of oil is $ 30, a deficit of $ 59 billion, or 57 percent.
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