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Iraq's economic and political circles have accused Saudi Arabia of causing great damage to the country's economy, accusing Riyadh of manipulating oil prices for America. A senior Baghdad government official told the New Arab that Iraq had to postpone discussions on the 2019 budget Due to the collapse of global crude oil prices.
Iraq's oil sector is likely to lose about $ 2 billion a month because of the Saudi move to increase its oil production if oil prices continue to fall.
The former Iraqi Minister of Transport and leader of the Supreme Islamic Council, Baqir Jabr al-Zubaidi, said in a press statement on Tuesday that the Saudi move "a new war alternative to the war of fatwas and bombing and booby-traps," adding that Iraq began to suffer large losses because of Saudi manipulation of oil prices.
"Saudi Arabia is presenting the first tax on the case of the killing of journalist Jamal Khashoggi, at the request of US President Donald Trump, to increase its oil exports," Zubaidi said, noting that "this increase in exports has caused an impact on oil prices."
"The price has fallen below $ 60, because Riyadh pumped large amounts of oil into the market, just because Trump made an angry speech a few days ago about high oil prices."
The former Iraqi minister of transport, the parliament and the government, called for "reducing the price of oil in the budget of 2019 to at least $ 50, instead of $ 56," stressing the government "to hold an emergency meeting of the Organization of OPEC and to file a complaint against the Kingdom, Which caused the loss of oil producing countries, billions of dollars. "
For his part, revealed a senior Iraqi official, in statements to "the new Arab", the postponement of the discussions of the financial budget for the next year 2019 within the Joint Committee formed last week between parliament and the Prime Minister, following the drop in oil prices, putting Saudi Arabia responsible for the financial damage to Iraq .
"It was decided to postpone the discussions this week to see how things will end with the price of oil," said an official in the Iraqi Finance Ministry, a member of the Committee to review the budget items next year 2019, noting that the government "afraid to calculate the price of oil within the budget and the reality is less than Much. "
The official, who declined to be named, said: "most likely will reduce the budget because of the decline of oil and the first affected are the liberated Iraqi cities and the education sector and health as they are associated with development projects will be canceled if oil prices continue this way," Riyadh blamed the damage directly to Iraq, And the fact that he is aware that he has just emerged from a fierce war and needs every dollar and that most of its financial revenues come from oil, "according to him.
He stressed that the submission of Saudi Arabia to the request of the US president, a dangerous index hurt the Organization of Petroleum Exporting Countries (OPEC).
In this context, the technical adviser at the Iraqi Oil Institute, Mohammed al-Rubaie, "the new Arab", that the losses of Iraq will reach a monthly to about two billion dollars because of the Saudi move, which can be considered insidious to the producing countries in the region because there is a prior agreement between them.
"In practice, most of the producing countries have lost confidence in Saudi Arabia in terms of oil policy and there is consultation between Iraq and other countries to control the collapse of prices and prevent the decline more, which leads to significant damage to the budgets of these countries."
According to the draft new Iraqi budget for next year, the volume of financial expenditures amounted to 128.4 trillion Iraqi dinars (about 108 billion dollars), a financial deficit of 22.8 trillion dinars (about 19 billion dollars).
The rate of export of oil per day by 3 million and 880 thousand barrels, including 250 thousand barrels per day from the quantities of crude oil produced in the provinces of Kurdistan, at $ 56 per barrel.
"Saudi Arabia is taking measures to evade its responsibilities and is trying to bribe the superpowers by dumping the oil market to cover the crime of Khashoggi's death," said Emad al-Sudani, an economist.
He stressed that "Iraq can not accept the payment of the tax of the crimes of the ruling family in the Kingdom, and it is imperative to make a decisive decision to determine the type of relationship with Riyadh, which should not affect the interest of the country," and charged the government "the responsibility to take the necessary steps towards it."
For his part, said a member of the Finance Committee in the Iraqi parliament Jamal Koger, in a statement to a local Iraqi newspaper, today, "Iraqi oil sold less than the prices offered in global markets for about $ 7 for reasons related to quality and quality," explaining that "the price of selling barrels of Iraqi crude oil Up to about $ 52 ".
He added that "the government will review all the figures set in the draft federal budget bill for 2018 commensurate with the price of oil in world markets."
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Iraq's economic and political circles have accused Saudi Arabia of causing great damage to the country's economy, accusing Riyadh of manipulating oil prices for America. A senior Baghdad government official told the New Arab that Iraq had to postpone discussions on the 2019 budget Due to the collapse of global crude oil prices.
Iraq's oil sector is likely to lose about $ 2 billion a month because of the Saudi move to increase its oil production if oil prices continue to fall.
The former Iraqi Minister of Transport and leader of the Supreme Islamic Council, Baqir Jabr al-Zubaidi, said in a press statement on Tuesday that the Saudi move "a new war alternative to the war of fatwas and bombing and booby-traps," adding that Iraq began to suffer large losses because of Saudi manipulation of oil prices.
"Saudi Arabia is presenting the first tax on the case of the killing of journalist Jamal Khashoggi, at the request of US President Donald Trump, to increase its oil exports," Zubaidi said, noting that "this increase in exports has caused an impact on oil prices."
"The price has fallen below $ 60, because Riyadh pumped large amounts of oil into the market, just because Trump made an angry speech a few days ago about high oil prices."
The former Iraqi minister of transport, the parliament and the government, called for "reducing the price of oil in the budget of 2019 to at least $ 50, instead of $ 56," stressing the government "to hold an emergency meeting of the Organization of OPEC and to file a complaint against the Kingdom, Which caused the loss of oil producing countries, billions of dollars. "
For his part, revealed a senior Iraqi official, in statements to "the new Arab", the postponement of the discussions of the financial budget for the next year 2019 within the Joint Committee formed last week between parliament and the Prime Minister, following the drop in oil prices, putting Saudi Arabia responsible for the financial damage to Iraq .
"It was decided to postpone the discussions this week to see how things will end with the price of oil," said an official in the Iraqi Finance Ministry, a member of the Committee to review the budget items next year 2019, noting that the government "afraid to calculate the price of oil within the budget and the reality is less than Much. "
The official, who declined to be named, said: "most likely will reduce the budget because of the decline of oil and the first affected are the liberated Iraqi cities and the education sector and health as they are associated with development projects will be canceled if oil prices continue this way," Riyadh blamed the damage directly to Iraq, And the fact that he is aware that he has just emerged from a fierce war and needs every dollar and that most of its financial revenues come from oil, "according to him.
He stressed that the submission of Saudi Arabia to the request of the US president, a dangerous index hurt the Organization of Petroleum Exporting Countries (OPEC).
In this context, the technical adviser at the Iraqi Oil Institute, Mohammed al-Rubaie, "the new Arab", that the losses of Iraq will reach a monthly to about two billion dollars because of the Saudi move, which can be considered insidious to the producing countries in the region because there is a prior agreement between them.
"In practice, most of the producing countries have lost confidence in Saudi Arabia in terms of oil policy and there is consultation between Iraq and other countries to control the collapse of prices and prevent the decline more, which leads to significant damage to the budgets of these countries."
According to the draft new Iraqi budget for next year, the volume of financial expenditures amounted to 128.4 trillion Iraqi dinars (about 108 billion dollars), a financial deficit of 22.8 trillion dinars (about 19 billion dollars).
The rate of export of oil per day by 3 million and 880 thousand barrels, including 250 thousand barrels per day from the quantities of crude oil produced in the provinces of Kurdistan, at $ 56 per barrel.
"Saudi Arabia is taking measures to evade its responsibilities and is trying to bribe the superpowers by dumping the oil market to cover the crime of Khashoggi's death," said Emad al-Sudani, an economist.
He stressed that "Iraq can not accept the payment of the tax of the crimes of the ruling family in the Kingdom, and it is imperative to make a decisive decision to determine the type of relationship with Riyadh, which should not affect the interest of the country," and charged the government "the responsibility to take the necessary steps towards it."
For his part, said a member of the Finance Committee in the Iraqi parliament Jamal Koger, in a statement to a local Iraqi newspaper, today, "Iraqi oil sold less than the prices offered in global markets for about $ 7 for reasons related to quality and quality," explaining that "the price of selling barrels of Iraqi crude oil Up to about $ 52 ".
He added that "the government will review all the figures set in the draft federal budget bill for 2018 commensurate with the price of oil in world markets."
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