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Jeweler: America and Saudi Arabia have no control over oil prices
09:02 - 26/09/2018
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Information / Baghdad ..
Oil expert Hamza al-Jawahiri said on Wednesday that the United States and Saudi Arabia have no control over oil prices, especially that the world as a whole suffers from a shortage of oil, indicating that Iraq will benefit from higher prices and increase its oil production and exports.
Al-Jawahri said in a statement to Al-Mawloma that "the markets suffer from oil in addition to the sanctions on Iran will reduce the quantities of oil in the markets more, and therefore there will be a significant rise in oil prices despite the US attempts to reduce this increase through the sacrifice quantities Big in global markets ".
"America has no other than its 10 million barrels of oil per day and consumes it all, since America and Saudi Arabia do not have the possibility of increasing oil prices because Saudi Arabia also needs to develop new fields to pump oil to control prices," he said.
"What led to the increase in oil prices is the need of the market for fuel, and everyone expects the price of a barrel to $ 100, but it is also expected during the meeting of OPEC in December, to pump large quantities of oil in order to reduce the rise in prices "He said.
"The situation of stability in oil prices is required for the producer and consumer. For Iraq, the rise in oil prices is a positive factor, and can increase Iraqi oil exports to compensate for the shortage in markets after the imposition of sanctions on Iran." End 25 n
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