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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Al-Kazemi’s advisor presents a solution to protect the Iraqi energy market from the fluctuations in

    Rocky
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    Al-Kazemi’s advisor presents a solution to protect the Iraqi energy market from the fluctuations in Empty Al-Kazemi’s advisor presents a solution to protect the Iraqi energy market from the fluctuations in

    Post by Rocky Thu 14 Jul 2022, 4:26 am

    [size=46]Al-Kazemi’s advisor presents a solution to protect the Iraqi energy market from the fluctuations in the crude oil markets[/size]
    Economie
    14:55 - 07-13-2022
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    Today, Wednesday, the financial advisor to the Federal Prime Minister, Mazhar Muhammad Salih, identified two factors that may stand behind the possibility of a recession in the global economy in the coming months, and while he explained the impact of this in Iraq, he proposed a solution to protect the Iraqi energy market from the fluctuations in the prices of crude oil markets.

    Saleh said, "There are two factors for the possibility of the global economy heading towards economic stagnation in the coming months, as the first factor is the strict monetary policy of the strongest economy in the world, which is the economy of the United States, which will lead to the policies of raising interest rates undertaken by the US Federal Reserve to combat inflation at the general level." For prices in the United States, the increase in investment costs and a decline in growth in the real sectors, which leads to a possibly slow decline in inflation growth, but will lead to a greater deterioration in the level of employment, higher unemployment rates and lower rates of growth in GDP.
    He added, "There is an objective link between high rates of economic growth and high demand for energy resources, which will contribute to the stagnation of derived demand for crude oil in the global market," noting that "the same will apply to the economies of the eurozone by following strict monetary policies to confront the frightening European inflation." Currently".
    He pointed out that "the second factor is the development of trends in the Chinese economy, which represents the second largest economy in the world, which has entered the phase of the Cold War with the West, which means that the growth of the Chinese economy will be indirectly affected by the global recession and various forms of economic boycott due to tension in economic relations." The international community and its exposure to some Western commercial and technological isolation, as well as the inevitability of the Chinese economy being affected by the conditions of recession in global demand.
    He noted that "China's imports of Russian crude oil are currently the highest among the sources of supply, and they are discounted in value by 40% per barrel, which means abandoning part of its imports from other currently high-priced oil markets from outside Russia."
    He pointed out that "the aforementioned factors will undoubtedly lose the growth momentum in demand for oil energy resources in the world, which will cause some (glut) in the oil supply markets, which are highly elastic or deflationary demand factors that directly contribute to the further deterioration of prices. The oil-exporting countries in OPEC and others, the potential glut in the oil market may cause price damage to the economy of Russia, the second oil producer in the world, whose daily production is estimated at about 11 million barrels of crude oil, most of which goes to export, to face a severe oil price war.”
    He continued: "There is no doubt that Iraq, whose economy depends on crude oil exports, will be affected by the price drops (if they occur) and will undoubtedly cause a decrease in the country's financial returns, so a mechanism must be applied that is to go as an accelerated future view towards employing the accumulation of financial surpluses that are currently obtained and directing their spending with priority. To finance large investments in the refining sectors of giant refineries and petrochemical plants to export petroleum products, whose added value rises to between 5-7 times compared to a barrel of exported crude oil.
    He continued: "Therefore, it is necessary to adopt a policy of accelerated transformation from the policy of exporting crude oil to exporting oil products, in a manner that ensures the stability of the limits of Iraq's financial and economic sustainability from the fluctuations of oil markets during the next ten years."
    He concluded by saying: “Thus, protecting the Iraqi energy market from fears of future crude oil market price fluctuations can only be achieved by raising the added value of the crude oil itself, by adopting a policy of manufacturing oil derivatives immediately by investing in (giant refineries with various products and few losses). ) as agreed upon by all energy experts in Iraq.
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