Economists expect a barrel of oil to reach $180

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[size=52]Economists expect a barrel of oil to reach $180[/size]

[size=45]Economists expect the price of a barrel of oil to reach $180, calling for the establishment of sovereign funds that invest increasing revenues in supporting the private sector, warning against losing this opportunity and maintaining the “rentier economy.”[/size]
[size=45]Economist Sabah Alo said in an interview with Al-Mada that "there is a great demand for oil as a result of the world's recovery from the Corona virus and the recent Ukrainian crisis (the war between Russia and Ukraine)," at the same time, expecting the price of oil to reach "180 dollars per barrel in the event that The current crisis in Ukraine continues.[/size]
[size=45]Alo explained, "Oil-producing countries such as Iraq will benefit greatly from the current rise in oil to compensate for the losses that they suffered a year or more ago due to the pandemic."[/size]
[size=45]Alo called on the government to "invest that money and use it in infrastructure work or establish a sovereign fund for the reconstruction of Iraq."[/size]
[size=45]The Ministry of Oil had announced earlier that Iraq had achieved the highest rates of oil export during the past month in eight years, stressing that the daily rate of export amounted to more than 3.3 million barrels per day, with a monthly revenue of 8.5 billion dollars.[/size]
[size=45]For his part, economic expert Basem Jamil Anton said, "Iraq is facing a precious and irreplaceable opportunity represented by the rise in oil prices, and it happened three to four times earlier that was not properly exploited."[/size]
[size=45]And Anton added, "The Iraqi economy remained for the past period a rentier dependent on oil only, and we were unable to transfer part of these revenues to sovereign funds and to develop the industrial, agricultural, tourism, transport and services sectors."[/size]
[size=45]He pointed out, "Iraq is in dire need of forming sovereign funds for youth that help create job opportunities for the unemployed, especially since we have about 180,000 annual graduates from colleges and institutes who do not find job opportunities."[/size]
[size=45]Antoun explained, "The presence of a private sector capable of absorbing these human capabilities keeps us from taking arbitrary measures to address the unemployment file."[/size]
[size=45]He stressed, "No day passes without demonstrations organized by the unemployed and young people looking for opportunities, and this crisis will not be resolved except by activating the private sector by taking advantage of high oil prices."[/size]
[size=45]And Antoun continues, "The operation of the private sector has significant effects, some of which are related to food security and its provision, and therefore we will dispense with imports."[/size]
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