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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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    Economist: The interests of producers and consumers are achieved through a fair price for oil

    Rocky
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    Economist: The interests of producers and consumers are achieved through a fair price for oil Empty Economist: The interests of producers and consumers are achieved through a fair price for oil

    Post by Rocky Thu Sep 12, 2024 5:23 am

    Economist: The interests of producers and consumers are achieved through a fair price for oil

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    Baghdad Today - Baghdad
    Economic expert Nabil Al-Marsoumi confirmed, today, Wednesday (September 11, 2024), that the fair price of oil is the one that achieves the interests of producers and consumers together.
    Al-Marsoumi said on his Facebook platform, which was followed by "Baghdad Today", that "the fair price of oil is the one that achieves the interests of producers and consumers together, that is, the price that achieves good financial revenues for producers that enable them to return part of it to renewing and increasing oil production capacities."
    He added: "It also enables consumers to obtain oil at reasonable costs that facilitate economic growth in it," explaining: "The price can be set in the seventies as a fair price for both parties, but when the price falls below $70, it achieves the interests of consumers because it enables them to obtain energy at a cheap cost and thus reduce the prices of production inputs and increase the competitiveness of their produced goods."
    He continued: "But on the other hand, it is harmful to the producing countries because it reduces their oil revenues and discourages investment in developing oil production. Conversely, when the price is $80 and up, this price is harmful to economic growth in the consuming countries and reduces the demand for oil in the long term, even though it achieves large revenues for the oil producing countries."
    Oil prices are witnessing a noticeable decline, especially in futures contracts, which experts believe may affect Iraq’s rentier economy and consequently the state and the citizen.
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