Oil Minister: $ 42 a barrel price estimate in the 2021 draft budget
Oil Minister: $ 42 a barrel price estimate in the 2021 draft budget
10/11/2020 8:59
{Baghdad: Where News} The Minister of Oil, Ihssan Abdul-Jabbar Ismail, revealed that “the government estimated the price of a barrel of oil at 42 dollars in the draft general budget for the year 2021.” And
Ismail stated in a press statement, that the price estimate came “according to the economic data of the oil market. Global and the repercussions of (Covid-19) on the activity of the industrialized countries and its impact on the volume of demand and the price of a barrel on the global market.
Abdul-Jabbar suggested that the price of a barrel of crude oil would stabilize within the limits of $ 41 to $ 42 during the last quarter of 2020, and he expected an increase of 3 percent to $ 45 for the record price of a barrel for the first quarter of 2021.
And the Minister of Oil believes that “the price of crude oil is linked to recovery or slower.” The repercussions of the Corona pandemic on the economies of the producing and industrialized countries are expected during the fourth quarter of 2020 or next year, according to the data of the determinants of the Covid-19 virus and the severity of its impact and its spread among human societies.
alliraqnews.com
