Iraqi budget and determine the price of a barrel of oil
Iraqi budget and determine the price of a barrel of oil
03/12/2014
The Iraqi government is facing a dilemma in determining the price of a barrel of oil to balance next year because of lower oil prices globally.
According to the Oil and Energy Committee in the House of Representatives member Ibrahim Bahr al-Ulum that the best solution to counter this decline in prices is to determine the price of a barrel to $ 65 per barrel, adding in an interview with Radio Free Iraq that the government will have to be close to this price because of the increasing decline prices, adding that the government overcome this crisis in other ways the most important to reconsider the structure of the oil sector.
But a member of the parliamentary finance committee Magda Tamimi says that putting the price per barrel up to $ 65 may affect the budget next year, if world oil prices decline continued, and said that the best figure is $ 50 a barrel with spending cuts, proposed to balance the complementary if improved oil prices.
Sees oil expert Abbas Ghalibi that the best figure to determine the price of a barrel of oil in the next year’s budget is $ 60, adding that the improved oil relationship between Baghdad and Erbil, Iraqi exports will increase and the possibility of an increase early next year global demand.
And see world oil prices decline rapidly in the price per barrel what caused serious damage to many countries, including Iraq, which is also facing a decline in its oil exports as a result of his war against al “Daash.”
iraqhurr.org
