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He warned of heavy losses.. Expert: The budget price of a barrel of oil should be $50
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2023-05-04 04:57
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Shafaq News/ The oil expert, Hamza Al-Jawahiri, considered today, Thursday, that the price of a barrel is supposed to be $50 in the 2023 budget, stressing that Iraq's loss is currently $7 a barrel.
Al-Jawahiri said in an interview with Shafaq News agency; "OPEC + is in a very strong confrontation with the West, led by America, as the latter wants prices to be in the 60 range in support of NATO's war on the Ukrainian arena, at the same time OPEC + wants prices to stabilize at the $80 range."
Al-Jawahiri predicted that "the confrontation between the two parties will be resolved in favor of the West, which is led by America, because it has stronger and more influential tools than OPEC +, represented by political or economic tools, and even threats and intimidation to large producing countries, especially to the Gulf countries, and therefore the price of oil in the budget for the current year 2023 must not exceed 50." dollars per barrel.
Al-Jawahiri stressed that "what Iraq sells of oil is about $65 a barrel at the present time because of the specific density of Iraqi oil and the impurities present in it, especially the high percentage of sulfur in it compared to other countries that sell oil, and therefore this means a loss of about $7 compared to global oil prices that Currently being sold.
He continued, adding to that, "Iraq pays international oil companies operating in the oil fields in order to develop and increase oil production, as well as from production costs, which range between 9.5 to 10 dollars, and therefore it means that Iraq does not reap profits from one barrel more than 55 dollars at best." conditions at the present time,” adding that “the price of oil has dropped to $60, the figure that Iraq will earn from oil sales is less than $50 a barrel.”
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2023-05-04 04:57
Share
Font
Shafaq News/ The oil expert, Hamza Al-Jawahiri, considered today, Thursday, that the price of a barrel is supposed to be $50 in the 2023 budget, stressing that Iraq's loss is currently $7 a barrel.
Al-Jawahiri said in an interview with Shafaq News agency; "OPEC + is in a very strong confrontation with the West, led by America, as the latter wants prices to be in the 60 range in support of NATO's war on the Ukrainian arena, at the same time OPEC + wants prices to stabilize at the $80 range."
Al-Jawahiri predicted that "the confrontation between the two parties will be resolved in favor of the West, which is led by America, because it has stronger and more influential tools than OPEC +, represented by political or economic tools, and even threats and intimidation to large producing countries, especially to the Gulf countries, and therefore the price of oil in the budget for the current year 2023 must not exceed 50." dollars per barrel.
Al-Jawahiri stressed that "what Iraq sells of oil is about $65 a barrel at the present time because of the specific density of Iraqi oil and the impurities present in it, especially the high percentage of sulfur in it compared to other countries that sell oil, and therefore this means a loss of about $7 compared to global oil prices that Currently being sold.
He continued, adding to that, "Iraq pays international oil companies operating in the oil fields in order to develop and increase oil production, as well as from production costs, which range between 9.5 to 10 dollars, and therefore it means that Iraq does not reap profits from one barrel more than 55 dollars at best." conditions at the present time,” adding that “the price of oil has dropped to $60, the figure that Iraq will earn from oil sales is less than $50 a barrel.”
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