After its collapse to the lowest level since 2021... Parliament reveals the fate of the oil price in the 2023 budget[ltr]
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The head of the Parliamentary Committee on Oil, Gas and Natural Resources, Haibat al-Halbousi, confirmed that Parliament will not change the price of a barrel of oil in the budget, considering that oil prices will not fall below $70 and will rise again.
Al-Halbousi told (Baghdad Today) that "the situation is still stable regarding oil prices and is set at $70 in the budget and will not be changed," considering that "prices will rise again and the oil market will recover," noting that "the representative of Iraq in OPEC delivered a message of reassurance to us that prices will return." To stability, which makes us have the option of keeping the price of a barrel of oil in the budget, as we got from the government at $70."
The Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul-Ghani confirmed earlier that the oil price situation will not fall below $70, revealing an upcoming OPEC meeting on this matter.
The day before yesterday, oil prices recorded the worst collapse since 2021, when the price of a barrel reached $72, to gradually return to a slight rise, to record today, Friday, $75 a barrel.