[size=36]Member of Parliamentary Finance: Iraq sells its oil cheaper than others for two reasons[/size]
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Member of the Parliamentary Finance Committee Jamal Kujer confirmed on Sunday that Iraq is selling its oil cheaper than others for two reasons, while he indicated that Iraq was very affected by the drop in oil prices because it negatively affects the general federal budget.
Cougar said, "The Iraqi state sells crude oil, at a cheaper price than others, for reasons. First, there are no places for crude to be stored inside the country so that it can keep the oil, and no marine fleet from which the state can wait for the appropriate price in the ocean, and therefore Iraq has specific times that it cannot Delay is more, and sells oil at a lower price than others, in normal circumstances for less than two dollars, but the price drops to 5-6 or 7 dollars in cases where the demand for oil weakens, because the Iraqi state is unable to delay the sale for the mentioned reasons.
He added, "Iraq is very damaged, due to the drop in oil prices because it negatively affects the general federal budget, by adding a deficit of about 50%, because the estimated price of the specified barrel was 56 or 55 dollars, therefore currently its price has decreased to 33 dollars and is volatile as the Iraqi state You sell it below the stated price. "
He pointed out that "half of the actual budget for Iraq will be a deficit, and originally the deficit number does not know its end, it was 32 trillion Iraqi dinars, but the reforms packages added him 10 trillion, and thus that the budget deficit rises at least between (45-42) trillion dinars and all A dollar falls from the price of oil, and the federal budget for Iraq loses about one billion and 315 million dollars within a year if the situation remains like this.
He concluded his speech by saying: "