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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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    Iraqi oil revenues during 2023 will decline, and an economist indicates "serious" repercussions

    Rocky
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    Iraqi oil revenues during 2023 will decline, and an economist indicates "serious" repercussions Empty Iraqi oil revenues during 2023 will decline, and an economist indicates "serious" repercussions

    Post by Rocky Fri 02 Jun 2023, 3:49 am

    [size=35][size=35]Iraqi oil revenues during 2023 will decline, and an economist indicates "serious" repercussions[/size]
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    Economy

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    2023-06-02 | 03:10
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    Alsumaria News - Economics

    Today, Friday, June 2, 2023, economist Nabil Al-Marsoumi revealed large losses in Iraqi oil revenues during the current year 2023.


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    Al-Marsoumi said in a post, followed by [url=https://www.alsumaria.tv/Entity/133473/%D8%A7%D9%84%D8%B3%D9%88%D9%85%D8%B1%D9%8A%D8%A9 %D9%86%D9%8A%D9%88%D8%B2/ar/]Alsumaria News[/url], that "the oil revenues achieved until May 2023 amounted to 37.222 billion dollars, and the oil revenues achieved until May 2022 amounted to 49.704 billion dollars, which means that the decrease in oil revenues during these two periods amounted to 12.704 billion dollars," noting that The percentage of decline between these two periods amounted to 34%.



    He added, "The significant decline in Iraqi oil revenues is linked to the decline in global oil prices and the decrease in oil production and exports due to [You must be registered and logged in to see this link.] Plus restrictions, which reduced the production share of Iraqi oil by about 430,000 barrels per day, in addition to the suspension of exports from the [You must be registered and logged in to see this link.] and [You must be registered and logged in to see this link.] fields since last March 25, which amounted to 470,000." barrels per day.”

    And he continued, "This decrease will negatively affect the total oil revenues achieved in 2023 compared to the revenues achieved in 2022, which amounted to $115 billion, which casts a dark shadow over the 2023 budget, which is burdened with a large deficit, which mainly depends in its public revenues on oil revenues."

    The Organization of the Petroleum Exporting Countries ([You must be registered and logged in to see this link.]) and its allies, including Russia, meet in [You must be registered and logged in to see this link.] on June 4 to decide on their production policy.
     
    The group, known as [You must be registered and logged in to see this link.] Plus, agreed on the second of last April to increase the cut to 3.66 million barrels per day, which is equivalent to 3.7% of global demand, after several members pledged unilateral cuts.

    The sudden announcement helped lift prices by about $9 a barrel to above $87 a barrel in the days that followed, but Brent crude prices have since lost ground.
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