IMF: Iraq needs oil prices above $90 per barrel
IMF: Iraq needs oil prices above $90 per barrel
2025-04-09 00:25
Shafaq News/ The International Monetary Fund revealed on Wednesday that Iraq needs an oil price above $92 per barrel to achieve a balanced budget for 2025.
According to the fund, which revealed in a table the oil price OPEC countries need to balance their national budgets for 2025, and which Shafaq News Agency reviewed, “Iraq needs an average price of $92.43 per barrel to balance its national budget.”
He added, “The highest average oil price required by countries to balance their national budgets was Iran, at $124.12 per barrel, followed by Algeria, at $118.95 per barrel, and then Kazakhstan, at $115.93 per barrel.”
The Fund continued, “Saudi Arabia needs an average price of $90.94 per barrel, followed by Kuwait at $81.84, Azerbaijan at $73.14, Libya at $70.05, and the UAE is the lowest-priced country at $49.95.”
Global oil prices have fallen in recent days, affected by the repercussions of tariffs imposed by US President Donald Trump on a number of US trading partners. This has raised concerns about a slowdown in global economic growth and its impact on oil demand forecasts. OPEC has also restored some of its production, raising concerns about a supply glut.
shafaq.com
