Iraq sets out four reasons for lower oil prices and hopes of improvement in the situation in 2017


Iraqi oil Ministry identified Tuesday, four reasons for the continued decline in oil prices, and hoped the improved price situation during the next year 2017, confirmed the existence of "optimism" to reach $ 50 a barrel.

Ministry spokesman Assem Jihad in a press release, that "experts and followers to regard market to return to collect the oil equilibrium but are from time to time to orgasms and instability due to factors relating to stock and growth of shale oil and a glut of supply because of a lack of commitment by many States as they pump into."

Jihad said that "these factors make oil prices back down, but we hope to be the next best", pointing out that "followers are not optimistic, but they are hoping the arrival of the oil price to $ 50 or less or more, hoping to be the best spot in 2017.

Iraq suffers from a financial crisis as a result of low oil prices that represents the resource revenue President country, while the Government seeks to find appropriate alternatives to address this problem and ensure employee salaries.