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BatmaninIraq
01-29-2015, 04:59 AM
Forecast the return of high oil prices over the next June


BAGHDAD / Amer Mohi


I expected the Ministry of Oil, on Wednesday, rising oil prices in the next June, while confirming that the calculation of the price per barrel estimates at $ 55 came after a study made by the specialists, warned an expert in economic affairs of the late adoption of the general budget, alluding to the possibility of the arrival of oil prices to $ 70 a barrel in the coming months.

A spokesman for the Oil Ministry, Assem Jihad, in an interview for the "long", "The pricing of the new oil at $ 55 a barrel did not come from a vacuum, but came through a large study carried out by a lot of oil experts, and after many discussions and deliberations, in addition to the Compare prices with the global market, "noting that" the agreement on the price came because of the expectations of experts and specialists to increase the price of a barrel of oil in the coming months. "
He Jihad saying that "expectations for a rise in oil prices the middle of this year, with some expected to rise by this time," pointing out that "studies have contributed to change the price of a barrel estimates of $ 60 to $ 55."

"It is possible to sell Iraq barrel at a lower price of $ 55 at the moment, but the price of the annual barrel is calculated after the collection of the price per barrel in every month, and then divide it by the number of months and therefore it is possible to come out the price per barrel to $ 55 and so there is no loss or deficit because of it, "adding that" the decline in oil prices impact on the producing countries, while consuming countries have benefited from it, especially China, "stressing that" the oil price decline came in a sudden and unexpected by everyone, and the reason for that is the political wills and income Oil shale Bankhvadh to this extent. "

Jihad explained that "Oil is now entering all the joints of life, and that has been invested in the form required, it is possible to increase the price again," adding that "rising oil prices will be reasonably fair-producing countries and consuming."
In the same vein, economist Dr. Ahmed Sabih said in an interview for the "long", that "a barrel of oil at the moment will not fall more than five dollars, or four, and it will not be a big decline, but it significantly affects the general budget," pointing to "the possibility of higher prices in the coming months, and up to $ 70 per barrel."

He Sabih saying that "everyone is busy at present the subject of lower oil prices, but can the budget deficit to compensate by raising selling the dollar at an auction price of the currency by 4 dinars per dollar, and this will bring significant revenue to the country, as can be cut land sale to citizens achieve positive results for the citizens and solving the housing crisis, comes additional revenues of the general budget. "

The expert suggested that "the government and the House of Representatives to keep the price of oil in its present form, or the work of the supplementary budget, and oil is calculated at $ 55, and if there is a change of oil prices is another budget situation," calling for "approving the budget as soon as possible because of the vulnerability of the Iraqi economy for the delay. "

The Cabinet had decided in (January 27, 2015) to reduce the price of a barrel of oil in the estimates of the budget law to $ 55 instead of 60, while attributing it to make the price of a barrel of oil closer to the reality of global markets and facilitate passing the budget law.

A spokesman for the Prime Minister's Office tributary Jabouri in a press statement that "the Council of Ministers held its regular fourth for 2015, headed by Haider al-Abadi, and decided to reduce the price of a barrel of oil in the estimates of the budget law to $ 55 instead of 60," adding that "the decision was made in order to make the price of a barrel of oil closer to the reality of global markets and facilitate passing the budget law. "

He expected the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) Abdullah al-Badri in (January 27, 2015) that the price of a barrel of oil up to $ 200 if oil investments fell under low oil prices remain at current levels.

Badri did not specify the length of time necessary for the prices even up to $ 200 but stressed that the majority of OPEC investments in the upstream sector of the oil and gas production is still continuing with the current price below $ 50 a barrel, and a few of them may be canceled.

He explained Badri in an interview that "the oil market is witnessing a surplus estimated at 1.5 million barrels per day," but he returned to say that this surplus will be corrected through supplies decline, not in terms of increasing demand, in an indication that lower prices would lead to a drop in production for some producers .