Spokesman of the Ministry of Oil: lower global oil prices need not fear and will not continue

Spokesman of the Ministry of Oil: lower global oil prices need not fear and will not continue

Friday July 13, 2012

Follow-up – and babysit – said the official spokesman for the Iraqi Oil Ministry, Asim Jihad, that current oil prices ranging between (90-99) dollars per barrel, the prices do not require appropriate fear.
Jihad said: The current year budget was put on the basis of price (85) dollars a barrel, while the current prices ranging between (90-99) dollars per barrel.

He explained: that the decline in oil prices in the global market manipulation received as a result of the major countries at the demand and supply do not affect the economy of Iraq, which has achieved a surplus in the (6) months for the current year amounted to more than nine billion dollars.

He added that current oil prices does not affect the budget as a result of Iraq’s budget plan that is developed on the basis of (85) dollars per barrel and the percentage increase, likely, not the continuation of low prices
Source: alrayy