Parliamentary energy: the price of a barrel of oil will reach $ 70 early next year

by **Rocky** Sun 12 Nov 2017, 10:31 am

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Parliamentary energy: the price of a barrel of oil will reach $ 70 early next year

by Rocky Sun 12 Nov 2017, 10:31 am

Parliamentary energy: the price of a barrel of oil will reach $ 70 early next year

The Committee on Oil and Energy parliamentary, high oil prices in world markets to $ 70 per barrel early next year, while pointed out that the rise in prices will contribute to raising allocations in the general budget of the Iraqi state.

"After OPEC members agreed to reduce the oil production of the members of the Organization and reduce the global production of rock oil, this led to higher oil prices in world markets," said member of the committee, Zaher Abadi.

He added that "the price of a barrel of oil has reached these days to more than $ 60, and is expected to increase the price of a barrel of oil with the continuation of OPEC members to $ 70 early next year."

Abadi pointed out that "the rise in prices will contribute to raising the amounts of financial allocations in the general budget of the Iraqi state to restart work in projects that have been stalled since the entry of the organization calling the terrorist to Iraq."

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