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Protests in Iraq lead to fluctuation of world oil prices
19:50 - 30/11/2019
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Protests in [You must be registered and logged in to see this link.] have not only toppled the Iraqi prime minister, but also have an impact on oil prices, which are expected to fall further amid general political uncertainty in the country , a Russian news agency reported on Saturday .
"It is believed that the resignation of Iraqi Prime Minister [You must be registered and logged in to see this link.] will push down the price of oil in the country, but analysts are not sure about the response of investors to the current events," the report said.
"(Oil prices) are going down because the protesters got what they wanted," John Kildof, a Capital Group partner, told CNBC, suggesting investors may now believe the current political situation has ruled out another possibility of disrupting Iraqi oil exports. As he put it.
"Let's see how the market is reacting to this development, with WTI futures dropping by 4.3 percent to $ 55.61 a barrel in mid-day trading."
For her part, the head of global commodities strategy in the group (RBC) this position, saying that "the situation in [You must be registered and logged in to see this link.] may get worse, and that it is not over yet," saying that "although oil futures" are trading on the title "that the East Middle East has become “quieter,” but traders “don't realize that the battle for [You must be registered and logged in to see this link.] future is entering a more dangerous phase”.
"Crude oil prices rose during the first days of unrest in the country, due to fears of possible supply disruptions."
According to the World Bank, the Iraqi economy improved in 2019 due to the increase in oil production, and is expected to increase GDP growth by 4.6 per cent by the end of this year. Finished / 25 z
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