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An expert reveals the impact of voluntary production cuts on the budget
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Baghdad today - Baghdad
Today, Monday, oil expert Hamza Al-Jawahiry revealed the impact of the voluntary reduction of oil production by Iraq on the budget deficit.
Al-Jawahiri said, to "Baghdad Today", that "the goal of the voluntary reduction of oil production by Iraq and other countries is to raise oil prices in the global market, because there are fears of reducing the price in the coming days, and this step will certainly have a significant impact on oil prices." ".
And he indicated that "raising oil prices by such a step will not have any effect on the deficit in the general budget of the Iraqi state," noting that "even if the oil price rises, this rise will cover the shortfall in Iraq's daily oil exports, but this step may have an impact." increase the deficit due to reduced exports.
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