Abadi adviser: oil prices will recover and is unlikely to landing without the cost of production

2016/1/18 13:12

{Baghdad: Euphrates News} Economic Adviser to the Prime Minister ruled out the appearance of Mohammed Saleh, falling oil prices to below cost of production, weighted price recovery in the future.

He said Saleh told {Euphrates News} "The global readings excluded falling oil prices to below cost of production," noting that "Iraq cheap in the cost of oil producing countries and this makes us immune to all production stopped because of falling prices."

He stopped a lot of oil investment projects in North America because of the high costs of production and falling prices, explaining that the "landing threatens the global economy, so oil prices will recover and can not become its price the cost of production or less, because it is not a free commodity, and there are hundreds of billions of dollars invested in the field of oil, The loss includes various countries around the world.

"He added that" the fall in oil prices, the issue of temporary, and if it has fallen below the cost of production, the global economy Fair recession and collapse, and that the drop in prices did not indicate the existence of a global winner, but all nations lose.

"He noted the existence of an economic policy called by {impoverish neighbor} This policy impoverish everyone, including working out because poverty prevail on everyone.

"The price of a barrel of oil continues to decline and reached about $ 30 which is less than the referee in the state budget at $ 45 per barrel.
This significant decline led to a considerable fears among Iraqis that the economic crisis will be suffocating them.

The oil minister Adel Abdul Mahdi, had confirmed that "the deterioration of harmful oil of Iraq rates, and for others as well, likely out of more than 13.5 million barrels of markets days if oil prices stay low, He pointed out that "the cost of producing a barrel of oil in Iraq up to $ 10.70 .anthy 1