Economist: lower oil prices will not continue and Iraq on the verge of bankruptcy
Economist: lower oil prices will not continue and Iraq on the verge of bankruptcy that has not grown its economy
03/08/2015 nine thirty-four
[Baghdad – where]
economist Abdullah al-Jubouri said, “The decline witnessed in oil prices will not last very much.”
He said al-Jubouri, told all of Iraq [where], “The continuing fall in oil prices and degradation for the fifth consecutive week came under the Iranian nuclear deal with the United Nations the United Nations and the Group 5 +1 and the European Union, China and Russia, which means entry quantities to the market lead to spree in the market with the present. ”
He added also that “what is going through the global economy from the economic downturn and the decline in global growth rates lead to lower oil prices.”
He noted that “the decline of oil prices will not be too much to continue because it would hurt everyone, and will not fall to the lowest of the level of production costs in some countries, which means he did not fall below $ 60 per barrel. ”
He said al-Jubouri said that “the cost of production in Iraq less than this much, which is a good thing calculated for the benefit of Iraq, as the cost of production in some other countries up to much, much more price. ”
With regard to the spread of global reports about Iqbal Iraq on bankruptcy in 2017, the economist said that “this is true if we do not put a rational for economic development plans and the disposition of the resources from the economy properly, and stop the deterioration and indiscriminate and Blur and waste of public money, and the astronauts and high salaries for many employees segments as well as all the things that still affect the waste of public money. ”
experiencing oil prices, a marked decline and frequent by reaching about $ 55 a barrel.
The Secretary General of the Organization of Petroleum Exporting Countries [OPEC] Abdullah al-Badri, said during the conclusion of talks with Russian Energy Minister Alexander Novak in 30 of last July, “the global oil market’s capacity to absorb the amount of oil Iran expected after the lifting of sanctions on Tehran under the nuclear program, which was reached between Iran and the group agreed [5 +1] recently.
He that “oil prices ranged between $ 50 and $ 65 per barrel” is to be expected “.anthy 2