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An economic expert talks about the effects of events in the Middle East on oil markets
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Economy News - Baghdad
Economic and financial expert Safwan Qusay spoke about the effects of Middle East events on oil markets, pointing out that there are countries seeking to narrow the scope of the conflict to eliminate the financial consequences.
Qusay said in a televised interview followed by Al-Eqtisad News, “Oil prices after the conflict trended above $90, meaning that there is concern in the oil markets about the need to increase purchasing, especially during this period, and to enhance storage and sustain the arrival of oil,” noting that “so far the indicators are positive.” For oil prices, the higher oil prices, the more there will be investments looking for this raw material outside the circle of conflict.”
He added, "Until now there are countries that do not want to enter this conflict, but they support and denounce and are trying to resolve the crisis or narrow the scope of the conflict so that it is limited within the borders of the region so that it does not develop, because any development outside the usual framework has financial consequences and displacement, and where will these displaced people go and who are the countries?" Capable of financing and reconstruction, such an issue needs to dismantle the crisis.”
He continued, "The oil boycott will not be beneficial for the producing countries, but it will confuse consumers, especially in the European Union, and there is a harsh winter, as well as the rest of the world. Betting on raising fuel prices while having strategic reserves for the short period is possible. It is possible to control oil prices through the oil reserves in the countries of the Union." European or other countries of the world, but if the circle of conflict continues and expands, I believe that the endings will not be in everyone’s interest.”
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Added 10/16/2023 - 8:11 PM
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Economy News - Baghdad
Economic and financial expert Safwan Qusay spoke about the effects of Middle East events on oil markets, pointing out that there are countries seeking to narrow the scope of the conflict to eliminate the financial consequences.
Qusay said in a televised interview followed by Al-Eqtisad News, “Oil prices after the conflict trended above $90, meaning that there is concern in the oil markets about the need to increase purchasing, especially during this period, and to enhance storage and sustain the arrival of oil,” noting that “so far the indicators are positive.” For oil prices, the higher oil prices, the more there will be investments looking for this raw material outside the circle of conflict.”
He added, "Until now there are countries that do not want to enter this conflict, but they support and denounce and are trying to resolve the crisis or narrow the scope of the conflict so that it is limited within the borders of the region so that it does not develop, because any development outside the usual framework has financial consequences and displacement, and where will these displaced people go and who are the countries?" Capable of financing and reconstruction, such an issue needs to dismantle the crisis.”
He continued, "The oil boycott will not be beneficial for the producing countries, but it will confuse consumers, especially in the European Union, and there is a harsh winter, as well as the rest of the world. Betting on raising fuel prices while having strategic reserves for the short period is possible. It is possible to control oil prices through the oil reserves in the countries of the Union." European or other countries of the world, but if the circle of conflict continues and expands, I believe that the endings will not be in everyone’s interest.”
Views 71
Added 10/16/2023 - 8:11 PM
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