Iraq’s oil is immune from risk of lower prices because it is desirable for the countries of East Asia
Member of the Energy Commission: Iraq’s oil is immune from risk of lower prices because it is desirable for the countries of East Asia
Date: Monday 18/06/2012 12:19
Baghdad (news) .. Attributed a member of the Committee on Energy and Oil MP / National Alliance / Ali Fayad, the causes of fluctuations in world oil prices to the economic crisis, European, playing down the seriousness of its impact on oil exports that the countries of East Asia have a great interest in buying Iraqi crude oil.
said Fayad (of the Agency news) Monday: The continuing decline in world oil prices due to the economic crisis the European that swept both from Greece, Italy and Spain, which led to reduce their request to buy oil in global markets. He added that Iraqi crude oil desirable from all over the world and receive special attention from the by the countries of East Asia such as Japan, Korea and China, noting that the need of those countries will not stop oil consumption, which demonstrates that Iraqi oil would not be affected by crises in Europe. He guessed Fayad, the return of international oil prices to normal after the solutions that will be available for European countries exposed to the crisis, stressing that changes in prices will be temporary. and see the countries of the euro a severe economic crisis due to declining industries and the large financial debt obligations, forcing some European countries such as Greece to implement a policy of austerity, they have declared which reduce the rate of importation of the World Petroleum, which made the request at least the purchase of international oil prices contributed to a decline. / Finished / 8. d. Q /