Parliamentary action: Parliament will reduce the sale price of a barrel of oil below the $ 50 budget in 202016:08 - 26/08/2019
[You must be registered and logged in to see this link.]
Information / Special…
The parliamentary working committee confirmed on Monday that the decline in global oil prices would put the government in front of an economic "disaster" if it adopted the sale price of oil for $ 56 a barrel in the draft federal budget for 2020, while showing that the parliament will go towards reducing the sale price of oil barrels below $ 50 To avoid fiscal deficits.
The committee member said Fadel Fatlawi in a statement / information /, " The government washeading towards the activation of local industries to reduce reliance on oil exports primarily," pointing out that " [You must be registered and logged in to see this link.]
has outlets border natural resources can rely on oil rather than in thepreparation of federal budgets."
He added that "the decline in high oil prices will put the government in front of an economic disaster in the case of the adoption of the sale price of oil barrel 56 dollars within the budget of 2020 ″, noting that" Parliament will go towards reducing the sale price of oil barrels below 50 dollars in the new budget to avoid the expected fiscal deficit.
Oil expert Hamza al-Jawaheri predicted last week that world oil prices would fall below $ 50 per barrel, while the government warned against the adoption of $ 56 to sell a barrel of oil in the draft federal budget for 2020.
The Organization of the Petroleum Exporting Countries (OPEC) has announced pessimistic forecasts for oil for the remainder of 2019, in light of the escalating trade war between the United States and China, and the exit of Britain from the European Union.
OPEC cut its forecast for oil demand growth in 2019 to 1.10 million barrels per day, and the Organization of Petroleum Exporting Countries is likely to report a slight s[You must be registered and logged in to see this link.]
urplus in 2020.