Iraq increases oil production to more than 3.5 million barrels
Iraq increases oil production to more than 3.5 million barrels
11/22/2014
BAGHDAD / JD / .. the form of lower world oil prices, great concern for the Iraqi government, the fact that the national economy dependent on oil revenues only, which made towards implementing austerity plan to reduce non-core expenditures of the ministries, which will be a preliminary plan to avoid a worsening of the financial crisis and liquidity.
Commission on oil and energy parliamentary has confirmed that Iraq will increase oil production in OPEC, which will reduce the effects of lower oil prices on the Iraqi economy and the budget in 2015, while criticizing some economists way to increase oil production, and the enemy as Stnzv Iraqi oil will increase from lower oil prices.
A member of the Oil and Energy Committee MP Ali al-Dhari downplayed the seriousness of the decline in world oil prices on the Iraqi economy and the budget in 2015, noting that it is “a matter of temporary and will resume oil prices to rise.”
He said al-Dhari told / BD /: “The federal government has taken precautions as a result of lower oil prices, and put austerity plan to reduce unnecessary expenditure of the ministries and government departments,” arguing that “the committee believes that there is a continuous increase in include oil production on the back of the business carried out by The Ministry of Oil, and that all the actual steps towards going to increase oil production from 2.7 million barrels to more than three million and a half million barrels per day, and this is what impressed by the amount of low oil prices on the economy and the general budget. ”
He favored a member of the Commission on oil and energy parliamentary, resumption of global oil prices to rise over the next few days.
For his part, criticized the economist Salam al-Quraishi, a way to increase oil production to meet the crisis, the decline in world oil prices, returned this process as “the depletion of national wealth and lead to lower oil increased to unprecedented levels.”
He said Quraishi told / BD /: “The process of increasing oil production, this means an increase of oil supply in the global markets experiencing a glut of supply in light of the lack of demand for the purchase of oil, and thus will increase from low oil prices and possibly up to an unprecedented price as $ 60 or without it. ”
He ruled out the economist, the resumption of oil prices to rise in light of increased oil production, the United States and Saudi Arabia, and the lack of demand by some of the European countries that are undergoing economic crises and the Asian countries that have oil reserves enough.
He advised the government Quraishi developing plans to reduce some unnecessary operating expenses and production of oil at a record pace and in accordance with the need for global markets, while the stability of oil prices.
Bahaa al-Araji, the deputy prime minister, said earlier: “The decline in oil prices and the negative impact on the Iraqi economy prompted the Iraqi government to find alternatives for the economy was in the forefront of finding ways to increase and maximize oil production.”
He added that “the recent agreement between the federal government and the government of the region to end the financial problems of the oil comes from this side”, stressing the importance of “a study by the specialized committees for the development of industrial and agricultural sectors.”
He said al-Araji, “our attitude is that there are real investments help build the country through the activation of the private sector” ./ ended / 8 /
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