Iraqi oil plays a pivotal role in the global economy recovers
Said the agency’s chief economist Fatih Birol, the International Energy said that “Iraqi oil plays a pivotal role in the global economy recovers.
He added in an interview that “any unexpected slowdown in oil production will have a significant negative impact of the global economy.”
He explained that while he did not address the report of the Agency’s general expectations to this possibility, it nevertheless is likely improbable and therefore IAEA touched him in its special report on Iraq’s oil industry, which will be released next month.
Birol said that “if they do not continue to Iraqi production growth, or if it does not Achieve this growth, the level of ambition, it will lead to continued problems and escalate inside Iraq and to damage the global oil market. “
“We will be affected by the Faltering growth of the oil sector in Iraq, China and European countries and developing Asian countries, where the increase in oil demand comes mainly from China and Asian countries, while harm rising prices ailing European economy “.