[size=36]Counselor Salih clarifies the extent to which Iraq is affected by the international economic dispute
[/size]
November 27, 2021[/size]
BAGHDAD /
Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, explained today, Saturday, the extent to which Iraq and the oil market are affected by the fluctuation of its prices as a result of the continued competition and economic and commercial dispute between China and the United States of America.
Saleh said in a press statement, "There is a cycle of oil assets that is still in the interest of the oil-producing countries, which is indicated by the continuous rises in the prices of energy resources. It declined due to the global economic shutdown and the deterioration of international economic activity, specifically in the year 2020 due to the Corona pandemic.
He added, "The United States liberating part of its oil stocks comes to strengthen the oil supply and stabilize prices in conditions of still slow growth in GDP here and there. A serious case of stagflation in the coming days is trying to contain oil prices within the limits that reduce the growth of excess demand or the demand gap in the current global oil market.”
He continued: “Despite the foregoing, the ongoing tension between the great powers producing and consuming oil remains an important player in deciding energy policies in the world, since the outbreak of the trade war between America and China during the era of President Donald Trump in 2018, which began after the announcement of the American president on 22 March 2018 announced an intention to impose tariffs of US$50 billion on Chinese goods under Section 301 of the 1974 Trade Law which chronicles the history of unfair trade practices, intellectual property theft, and in retaliation by the Chinese government, tariffs have been imposed on more than 128 American products, the most famous of which is soybeans.
And he continued: “Here, it can be said, from a personal point of view, that weight in the oil equation between the two countries that constitute the forefront of the global economy in terms of gross domestic product and international trade and investment influence (the United States and China) requires looking at it, as the increase in oil prices will remain strategically in the interest of the United States. Being the largest oil producer in the world, it is able to produce 14 million barrels of crude oil per day, while China is one of the largest oil importers in the world and consumes about 14 million barrels of oil per day, most of it imported.”
And he added: “As oil prices will remain the weight of the egg between the largest producers (America) and the largest consumers (China) in the trade war game between them, and oil will remain as the first political and strategic commodity in the world and one of the tools of influence within the global economy whose prices cannot be easily compromised. Therefore, the intervention of the United States by offering part of its reserve stocks came after the strengthening of supply and the opening of the OPEC countries with an additional offer, which enabled Iraq, for example, to produce an additional 400,000 barrels out of its total production of more than 4 million barrels of oil per day.
He pointed out that "all of this aims to bring about stability and balance in the energy market in proportion to the desired growth and stability in the global economy and to avoid dangerous phenomena such as (inflationary stagflation) referred to above due to the continuing rising energy costs in the world as a result of the demand gap for energy resources."
[You must be registered and logged in to see this link.]
» Mishaan al-Jubouri: The judiciary is the last of the fortresses, and by threatening it, we read peac
» The National Union sends a message to the Democrat regarding heading to Baghdad
» Barzani: The Democrat did not and will not give up the rights of Kurdistan
» Minister al-Sadr: The tire plays with fire
» A leader in the Sadrist movement: Sadr's life is in danger
» Nassif calls for stopping the aviation authority's contract with a company dealing with the "Israeli
» The central bank denies granting sums of money to citizens
» Iraqi bank cuts interest on loans to employees
» Low oil prices
» Al-Rafidain determines the term of repayment of the loan to purchase a house
» Iraq and the United States discuss efforts to combat money laundering and terrorist financing
» Politician: Going to early elections may lead to worse outcomes than 2021
» OPEC obliges Iraq to raise its oil production ceiling
» Al-Rafidain sets the period for repaying the 150 million loan to buy a residence
» The Central Bank of Iraq clarifies the fact of granting sums of money to citizens
» Oil prices are falling again
» Dollar exchange rates in Iraq for today
» Al-Fateh reveals the goal of Al-Amiri's tours.. What about meeting Al-Sadr?
» The "The People Protects the State" Demonstrations Committee calls for preparations for major demons
» Kurdistan Democratic Party: reveals two ways to solve the crisis
» A parliamentarian calls for stopping the aviation authority’s contract with a company “dealing with
» An “ominous triad” .. the Minister of Sadr sends a strongly worded message to the framework
» Video: A chest revolution, framework sit-ins, and a million-dollar call amid a political movement ca
» On This Date, Al-Baldawi Reveals An Upcoming Meeting Between Al-Amiri And Al-Sadr
» (Earth News) Publishes Instructions For The Powers Of Disbursing The Food Security And Development L
» Al-Kazemi's Advisor Resolves The Controversy Over State Spending In The Absence Of The Budget
» Al-Kazemi's Advisor Sets An Alternative Path To End The “Exchange Rate” Crisis
» A member of the law talks about the possibility of holding parliament sessions outside the Green Zon
» The Minister of Finance is following up the implementation of the stages of the financial and econom
» The government comments on the possibility of restoring the dollar exchange rate and ending the curr
» Tehran: We do not stand with any Iraqi current against another
» Finance begins to launch financing the salaries of state employees for the month of August
» It extends to 2030.. Iraq reveals its plan to confront drought and climate change
» Deputy for Al-Fateh: Shuttle movement of the leaders of the framework to get out of the political bl
» Details of the meeting of the Governor of the Central Bank and the US Ambassador to Iraq
» To dissolve the political stalemate, the resolve calls for a comprehensive political dialogue
» Drought hits Iraq hard.. How did the Garden of Eden turn into a barren desert?
» Iranian MP: We can assassinate Trump this way
» SCARY: CENTRAL BANKS RESERVES ARE VARIABLE AND DEPEND ON HOW THEY ARE MANAGED
» PARLIAMENTARY FINANCE CLARIFIES THE POSSIBILITY OF PARLIAMENT AUTHORIZING THE GOVERNMENT TO SEND THE
» FINANCE: LAUNCHING THE FINANCING OF STATE EMPLOYEES' SALARIES FOR THE MONTH OF AUGUST
» THE MINISTRY OF COMMERCE LAUNCHES A QUESTIONNAIRE ON THE QUALITY OF FOOD BASKET MATERIALS
» THE COUNCIL OF MINISTERS SUPPORTS THE GULF CUP WITH 3 BILLION DINARS
» Muqtada al-Sadr issues an "official" directive: It is a "year of change"
» Source: Al-Amiri asked Barzani to mediate with Al-Sadr to negotiate with the framework, and their me
» Al-Amiri concludes his tour to the Kurdistan Region and his initiative is welcome in Sulaymaniyah
» Washington and the European Union affirm their support for achieving "good governance" in Iraq
» Zidane and Plasschaert discuss the role of the judiciary in the political crisis
» Al-Sadr's Minister strongly attacks the "Katheboon" bloc and reminds it of 14 reasons: Did we not ex
» Discussions on money laundering and terrorist financing between the US ambassador and the Central Ba
» Three services provided by Lebanon to Iraq to pay $550 million as a result of importing fuel
» A slight increase in the exchange rates of the dollar in Baghdad and its stability in Kurdistan
» From 5 to 50 million dinars.. Launching a new meal from the advances for three categories
» The stability of gold prices in Baghdad and its decline in Kurdistan
» Masrour Barzani expresses to Al-Amiri his support for all forms of negotiations based on the princip
» Muqtada al-Sadr sets next Saturday as a date for an "unprecedented" demonstration
» The framework is fighting the current over legitimacy, and Al-Sadr breaks the weights of politics wi
» Parliament: Restoring the prestige of state institutions in the Iraqi judiciary
» Political expectations for the launch of the "Amiri Initiative" for reconciliation with al-Sadr
» The government comments on the possibility of restoring the dollar exchange rate and ending the curr
» The marshes of Iraq are perishing with thirst... and the accusation is Iran
» Masrour Barzani on his meeting with Al-Amiri: It came at the right time
» From liberation to celebrations... Al-Sadr sets the course for an "unprecedented" demonstration
» Representative of the National Union: The fate of the Iraqi parliament is the solution
» Planning apologizes for creating a new area in Basra
» Planning: 1,452 projects stalled for financial and contractual reasons
» The Sadrists: The Judiciary's statement regarding the dissolution of Parliament is a prelude to acce
» Electricity announces Al-Kazemi’s approval to transfer the gauges readers to Resolution 315
» The Minister of Finance conducts an inspection visit to the customs authorities and free zones and i
» Planning invites ambassadors of donor countries to review the working mechanisms of the Reform and R
» "Economy News" reveals the developments of the Greek tanker loaded with Iraqi oil hijacked by Iran
» Iraq's debts owed by Lebanon exceed half a billion dollars... and Baghdad sends a delegation to nego
» Finance Committee: The year 2023 will proceed according to the 12/1 exchange rule if the current si
» The Integrity Commission announces the imminent recovery of two billion dollars smuggled from abroad
» Federal Service Council: We are keen to include graduates in all state institutions
» State of Law: Next week will witness a rapid movement to resolve the crisis
» The financial control determines the percentage of completion of the job intersection file for those
» Al-Amiri and Talabani discuss the latest political developments and new initiatives to resolve the c
» The Minister of Sadr responds to the "liars bloc" with a 14-point statement
» Zidane and Plasschaert discuss the role of the judiciary in addressing the legal problems of the pol
» Low oil prices in world markets
» The dollar recorded a rise in the Iraqi market
» Customs: 11 violating trucks seized at the Central Region Customs
» The United States and the European Union are discussing several files related to Iraq
» In numbers... Integrity details its achievements for the first half of this year
» Direct funding of employee salaries for the month of August - urgent
» Al-Sadr's Minister responds to a political bloc that accused the Sadrist movement
» Al-Rubaie: The new cabinet decision regarding Khaleeji 25 was not in the interest of Basra
» Zidane and Plasschaert discuss a number of issues related to the political crisis – urgent
» Al-Amiri and Barzani discuss political developments and developments in the crisis
» Oil prices are witnessing a slight decline
» A slight increase in the exchange rates of the dollar in Iraq
» Happy Birthday worf
» MilitiaMan and KTFA Members "News and Views" Saturday PM 8-13-2022
» KTFA Members "News and Views" Sunday Morning 8-14-2022
» Iraqi "ports" reveal the details of the plan to develop marine industries
» The dollar exchange rate confuses the Iraqi economy
» Al-Amiri's office announces the axes of talks with Masoud Barzani