Expert: The price of a barrel of oil in the 2022 budget should be set at $70
Expert: The price of a barrel of oil in the 2022 budget should be set at $70
Thursday, November 18, 2021 | 09:16 am
Economist Safwan Qusai expected, on Thursday, that oil prices will continue at the $80 barrier over the next year, according to the OPEC Plus meetings.
Qusay said in a press statement, “The Ministry of Oil announced early that it would price a barrel of oil at $50, then raised its estimates to $60 in the budget for the next year, and it is expected that the OPEC Plus agreement would have emphasized maintaining the price of a barrel of oil at $80 during 2022. “.
He added that “the price of a barrel of oil, realistically, should be set at 70 dollars in the next year’s budget, so that there is a possibility to defend oil revenues in the event that it falls below the 70 dollars a barrel barrier, through the surplus achieved at the beginning of 2022.”
Qusay expected the energy markets to continue to demand oil, especially with the winter season, in addition to the possibility of recycling the surplus that will be achieved during the next two months. Public investment and consumer spending is supposed to be built on the basis of 150 trillion dinars, especially since Iraq needs to finance unfinished investment projects to create job opportunities and face rising prices.
aynaliraqnews.com
