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Economist Expects Oil Prices To Exceed $100 A Barrel
01/19/2022
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01/19/2022
93
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Earth News/ The economic expert, Nabil Al-Moussawi, expected, today, Wednesday, that the price of a barrel of oil will exceed the barrier of 100 dollars a barrel, while stressing that this rise positively affects the Iraqi economic situation.
Al-Moussawi said in an interview with Earth News, "There are upward trends in the tracks of crude oil, and today Brent crude recorded more than 87 dollars, in an indication of the recovery of the oil market due to many factors, strong demand and limited supply," noting that "the inability of American shale oil producers return to their previous levels and their preference for the distribution of profits.”
He added, "It is hoped that the price of a barrel will reach and break the price of 100 dollars a barrel," noting that "this matter reflects positively on the economic reality in Iraq because the current levels mean that Iraqi oil revenues for 2022 may break the $100 billion barrier, which is more than 25 billion dollars." About what you achieved last year.
Al-Moussawi added that "all economic balances in Iraq will be positively affected by the jump in oil prices, the trade balance, payments and the general budget, and the percentage of the deficit in it will decrease, and there will be funds dedicated to the investment side and increasing job opportunities, and this wave of price increases should not be lost."
He stressed that "it is possible that oil prices and their rise reconsider the exchange rates of the dinar against the dollar, and therefore this matter depends on the policies of the next government and the pressure that Parliament places on the central bank, as it is the economic decision-maker."
[You must be registered and logged in to see this link.]
Al-Moussawi said in an interview with Earth News, "There are upward trends in the tracks of crude oil, and today Brent crude recorded more than 87 dollars, in an indication of the recovery of the oil market due to many factors, strong demand and limited supply," noting that "the inability of American shale oil producers return to their previous levels and their preference for the distribution of profits.”
He added, "It is hoped that the price of a barrel will reach and break the price of 100 dollars a barrel," noting that "this matter reflects positively on the economic reality in Iraq because the current levels mean that Iraqi oil revenues for 2022 may break the $100 billion barrier, which is more than 25 billion dollars." About what you achieved last year.
Al-Moussawi added that "all economic balances in Iraq will be positively affected by the jump in oil prices, the trade balance, payments and the general budget, and the percentage of the deficit in it will decrease, and there will be funds dedicated to the investment side and increasing job opportunities, and this wave of price increases should not be lost."
He stressed that "it is possible that oil prices and their rise reconsider the exchange rates of the dinar against the dollar, and therefore this matter depends on the policies of the next government and the pressure that Parliament places on the central bank, as it is the economic decision-maker."
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