Call for the preparation of the reality of the case in accordance with the conditions of the budget
Call for the preparation of the reality of the case in accordance with the conditions of the budget
1/15/2015 0:00
Outlook stable oil prices between $ 55 to $ 60 within two years
BAGHDAD Mostafa Hashemi
thank Fatlawi
since last June, oil has lost almost half its price, at a time when OPEC refuses to back down from its position of reducing production to ease the glut of oil supply and wrote a lot about this dramatic decline and raised scenarios and different ideas to deal with the repercussions of a downward movement which caused extensive damage to the economies of several countries, including Iraq, which is almost entirely dependent economy on oil.
barrel
and perhaps determine the price of a barrel global oil for adoption in drawing the budget year 2015 highlighted the challenges faced by economists because the global price of crude did not settle yet to a certain extent while sources predicted the price of the bottom of the range of $ 35 crude barrel and $ 40 per barrel of Brent.
achieve the goals
in this context oil expert Hamza jeweler said in a seminar organized by the progress of policy development institute: Achieving price of 60 dollars which have been prepared in the budget Kan can not be universally achieved over the next two years to the presence of large amounts of oil stored in giant tankers at sea allows speculators and owners of international companies use to influence Saralnaft and thus achieve the goals fabricated for it this crisis, which is different from its predecessors from the crises of the the world.
Producers non-traditional
and explained that this crisis aims to expel producers nontraditional from the scene who influenced a lot in the production of OPEC members, noting producers to produce 14 million barrels a day.
He stressed that the world needs today to 91 million barrels of oil a day, with total OPEC production 30 million barrels per day, while inventories in the sea up to 200 million barrels are purchased at low prices to be sold later.
He predicted that the re-oil prices to rise in 2016 to range between $ 55-60 per barrel, pointing out that Iraq aspires to reach for the production of 9 million barrels per day to compensate for the lower price, but the problem – according to the jeweler – is that the quantities currently producing up to (2.75) million barrels per day from the southern fields in Basra for the remainder of the 550 thousand barrels that have been agreed upon with the Kurdistan Regional mortgage security and technical conditions that may not allow their production at the moment .. calling for the need to prepare the reality of the budget if it would be possible to deal with it in accordance with the conditions and prices.
economist and agent of former Ministry of Planning Behnam Elias Peter is also talked about the budget exciting number of observations on them .. revealing The effect on the total budget level ranges between (72-81) percent at a rate of 76 percent, leaving a deficit or surplus is a stable trend over the years (2010-2013).
in-depth studies
and called for a review of the budget through the preparation of in-depth studies on the potential Available available in non-oil activities and try to develop in order to be possible to create alternatives in light of expectations constantly deteriorating oil prices, which will not exceed 60 dollars in the event of recovery. He stressed the need to develop a long-term strategy takes into account the internal matters and external relations and alliances to serve as a road map for the future.
style bargaining
noted Peter to the necessity of the various ministries and state institutions to prepare systematic studies to serve as a guide when approving the budget and leave the style of bargaining currently approved in the budget preparation. ., demanding the formation of a working group following the implementation of the budget every month according to the economic and financial indicators fixed and known then move to the programs budget.
to the oil minister of the UAE Suhail bin Mohammed Al Mazrui said on Tuesday that OPEC will not change its strategy for the production of oil and ruled out any sudden rebound in prices occurs.
Mazrui said that it is unlikely to see a sudden increase – will take time. “It will be up to what we will see in the current quarter and the next. The first half of 2015 will give us more data to predict what will happen.”
Mazrui said the oil market “will take time to settle down. But Do you take two or three years? It depends on the rationality of producers. ”
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