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


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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    A specialist warns: Low oil prices threaten the 2023 budget... very optimistic

    Rocky
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    A specialist warns: Low oil prices threaten the 2023 budget... very optimistic Empty A specialist warns: Low oil prices threaten the 2023 budget... very optimistic

    Post by Rocky Thu 16 Mar 2023, 4:00 am

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    [size=52]A specialist warns: Low oil prices threaten the 2023 budget... very optimistic[/size]

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    Today, Wednesday, the economist, Nabil Al-Marsoumi, commented on determining the value of $70 per barrel of oil in the 2023 budget, while stressing that the drop in global oil prices will put the budget on a critical path, considering the current situation has become “concerned.”[/size]
    [size=45]Al-Marsoumi said in an interview, "The 2023 budget is very optimistic, as it is based on exports of 3.5 million barrels per day and an oil price of $70 per barrel," noting that "Iraq is the first oil country in OPEC to adopt such a high and unreserved price."[/size]
    [size=45]He added, "The previous Iraqi budgets were always based on a conservative price for a barrel of oil, that is, less than the current and expected price, but the current budget was built on 70 dollars, while the Gulf budgets were decided between 55-65 dollars."[/size]
    [size=45]The economist explained, "Oil revenues are the backbone of the Iraqi budget, which is the external variable and therefore difficult to control," noting that "the budget is very large and the deficit as well, and this is what puts the Iraqi budget on a critical path."[/size]
    [size=45]Al-Marsoumi stressed, "Any drop in oil prices could lead to a significant reduction in oil revenues, especially since Iraqi oil prices are about seven dollars less than Brent crude."[/size]
    [size=45]And the expert stated, “The budget situation in this way has become a concern because it did not take into account the principle of a possible decline in global markets.”[/size]
    [size=45]International oil prices continue to decline significantly, after Brent crude recorded nearly $74 per barrel compared to one barrel of oil, after prices were recording more than $85 per barrel. Ended/25 SAR[/size]
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