[size=30]An economist reveals the huge losses in Iraqi oil revenues during the current year[/size][You must be registered and logged in to see this image.]
Al-Marsoumi said in a post on Facebook, followed by NRT Arabia, 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 decline in oil revenues during these two periods amounted to 12.704 billion dollars." Pointing out 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 OPEC Plus restrictions, which reduced the production share of Iraqi oil by about 430,000 barrels per day, in addition to stopping the exports of Kurdistan and Kirkuk fields since March 25, which amounted to 470,000." barrels per day.”
Al-Marsoumi added, "This decline 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 (OPEC) and its allies, including Russia, meet in Vienna on June 4 to decide on their production policy.
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