An urgent recommendation to the Iraqi government and parliament: Price a barrel of oil in the budget at $45
An urgent recommendation to the Iraqi government and parliament: Price a barrel of oil in the budget at $45
2023-01-09 00:36
Shafaq News/ On Monday, oil expert Hamza Al-Jawahiri called on the Iraqi government and parliament to set a price of $45 per barrel of oil in the 2023 budget, warning that the proposed price of $65 per barrel in the budget “benefits the thief.”
Al-Jawahiry said in an interview with Shafaq News agency, “The confrontation between OPEC + and the major industrial countries in the world has become public and is not hidden from anyone. general, should be taken into account.
He added, “OPEC + has tools to keep oil prices at a fair price for both parties, which is around $80 a barrel. As for the Western countries, led by America, they find that the fair price is around $60, which is the same price that America and the European Union set on Russia as a ceiling for the oil price.”
He pointed out that “OPEC + is not as strong as the West in general and the major industrial countries, meaning that it is a struggle between two parties, a very strong party and a relatively weak one, and this means that the price will settle at $60 a barrel sooner or later.”
He pointed out that “Iraq, according to these prices, will sell its oil at an average price of no more than 55 dollars per barrel, because the bulk of Iraqi oil is heavy or medium, and the sulfur content is high.”
And he indicated that “the default price of oil in the budget should be 45 dollars, and what is more than that in terms of funds must be transferred to the Sustainable Development Fund through the legislation of a text in the budget that requires the transfer of these funds to this fund monthly, but if the price is less than 45 during any month, the deficit must be covered by the savings of this fund.”
Al-Jawahiry pointed out that “setting a price of $65 per barrel in the 2023 budget is incorrect,” noting that “insisting on this price benefits the thief because the volume of money in the budget will be large, and the larger the size of the budget, the greater the stolen money will be.”
shafaq.com
