Economist: Iraq’s budget is safe after oil prices rise to more than $75 per barrel
Economist: Iraq’s budget is safe after oil prices rise to more than $75 per barrel
1-31-2025
Information/Baghdad…
Economic researcher Diaa Abdul Karim explained on Friday that Iraq’s budget is safe in light of the rise in oil prices to more than $75 per barrel, with expectations of an increase in production in the coming period.
Abdul Karim told Al-Maalouma, “The decline in US stockpiles prompted Trump to put pressure on OPEC to increase production and pumping quantities from exporting countries to the world to compensate for any shortage in stockpiles.”
He added, “Current oil prices have exceeded $75 per barrel, a figure that puts Iraq’s budget in a safe place from any setback that may occur in global oil prices, although expectations indicate the possibility of it remaining at this level or rising slightly.”
He pointed out that “global policy has an impact on the rise and fall of oil prices, and it is likely that OPEC will gradually stop reducing production in order to increase stocks, and oil prices may rise with it, as the increase in production will not be met with a decrease in prices due to the increasing demand from America for oil.”
almaalomah.me
