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Economist warns against lending oil to Saudi Arabia and stresses the need to sell it

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Economist warns against lending oil to Saudi Arabia and stresses the need to sell it Empty Economist warns against lending oil to Saudi Arabia and stresses the need to sell it

Post by rocky on Fri 20 Sep 2019, 1:46 am

Economist warns against lending oil to Saudi Arabia and stresses the need to sell it


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09:00 - 20/09/20190


Economist Osama al-Tamimi warned on Friday against the oil ministry's move to lend Saudi Arabia what it needs from Iraqi oil to fulfill its contracts to consumers, pointing out that the right action must be taken by selling oil to Saudi Arabia at its current price.

Tamimi said in a statement to the information, that "Saudi Arabia will seek to fulfill its commitments to the contracting countries with them to import Saudi oil, as the targeting of Aramco hampered the arrival of the quantities agreed in a timely manner."

He added that "Saudi Arabia is trying to get 20 million barrels of oil as an oil loan from Iraq to pay off its oil pledges to the countries of the world."

He explained that "the Ministry of Oil should work to refuse to lend to Saudi Arabia, and the sale of crude oil to the Kingdom at its current price."

Al-Tamimi stressed the need for "the Ministry of Oil to announce its production capacity, and stocks in order to agree with Saudi Arabia on a specific mechanism to compensate for the shortage of oil exports through sale and not by lending Riyadh those quantities." Finished 25 N

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