Iraq sets the price of a barrel of oil in next year’s budget

Iraq sets the price of a barrel of oil in next year’s budget

Monday 9 August 2021 | 05:42 PM

Iraq sets the price of a barrel of oil in next years budgetThe financial advisor to the Prime Minister, Mazhar Muhammad Salih, set, on Monday, the expected new oil sale price within the draft federal budget law in Iraq for the year 2022, while setting the condition for reducing the likely deficit in the new budget. Saleh said, “The price of a barrel of exported oil in the estimates of the general budget for 2022 will be higher than the price approved in the current year’s budget of $45,” noting that “the increase in the new price will be from 15 to 20% over the current price.” He added, “The price increase will depend on the price developments of crude oil in the global market at the beginning of next autumn,” noting that “in all cases, the amount of 52 dollars may be adopted as the price of a barrel of exported oil as a minimum, and the upper limit is 55 dollars, taking into account the increase In production quantities under the “OPEC Plus” agreement

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