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Oil reveals the way Washington manipulated global oil prices
15:38 - 28/04/2018
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Oil expert Hamza al-Jawahiri revealed on Saturday how the United States manipulated world oil prices, while Washington is unable to reduce prices at present.
"The US has 430 million tons of oil as a strategic storage pump estimated quantities of 15 million in a short period in the markets and dumping in excess quantities for the purpose of falling prices," he said, pointing out that "Washington is back to buy oil that pumped into the markets After landing for the purpose of manipulating oil prices in world markets. "
He added that "the United States in every sale and purchase of oil reap profits and limit the rise in prices," noting that "the rise of oil to 73 dollars will remain constant in the coming period and can not be manipulated by America because it earned profits in advance."
The oil expert Hamza al-Jawahiri said earlier that the rise in oil prices above the $ 70 a barrel will provide Iraq with a surplus of more than 25 billion dollars added to its federal budget.
Russia joined the Organization of the Petroleum Exporting Countries (OPEC) last year to cut oil output by 1.8 million barrels per day (bpd) in an agreement aimed at restoring equilibrium to the market and helping raise crude prices to near four-year highs. End 25 T
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