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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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An economist regarding setting Russia's oil prices: it will reflect negatively on Iraq

rocky
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An economist regarding setting Russia's oil prices: it will reflect negatively on Iraq Empty An economist regarding setting Russia's oil prices: it will reflect negatively on Iraq

Post by rocky Tue 06 Dec 2022, 5:02 am

[size=35][size=35]An economist regarding setting Russia's oil prices: it will reflect negatively on Iraq[/size]
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Economie

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2022-12-06 | 02:30
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Alsumaria News - Economy

The economic expert, Nabil Al-Marsoumi, explained, on Tuesday, the repercussions of setting a ceiling on the price of Russian oil on Iraq.


Al-Marsoumi said in a post on “Facebook”, followed by Al-Sumaria News, that ““[url=https://www.alsumaria.tv/Entity/47950/%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9 %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9/ar/]Saudi Arabia[/url]reduced the official selling prices for Arab Light crude, which it sells to[You must be registered and logged in to see this link.]for the month of January, to the lowest level in ten months, to the level of $2.20 above the average of[You must be registered and logged in to see this link.]/[You must be registered and logged in to see this link.]crude instead of $3.25 in the previous month.” This month due to concerns about declining demand and the possibility of increased Russian competition.






He added, "Setting a price ceiling for crude[You must be registered and logged in to see this link.]Russian oil at a level of $60 a barrel will lead to more Russian shipments that will flow to Asia and compete with Saudi oil and Iraqi oil, as it is currently exported.[You must be registered and logged in to see this link.]About 2.800 million barrels per day[You must be registered and logged in to see this link.]And the[You must be registered and logged in to see this link.]

Together, they are the two main markets of Iraq and Saudi Arabia, to which they export about two million barrels per day.” The weak global outlook on oil and the possible fears of an imminent hike in US interest rates, which led to the current collapse of Brent crude and its decline to the level of $83 a barrel.

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