Relationship: why risk putting a higher price of 35 dollars a barrel in 2017 balancing

2016-09-09 at 12:11

Baghdad scales news

Cabinet Secretary said Mahdi relationship, Friday, reasons for choosing 35 a barrel price in next year's budget, noting that the risk cannot expect high price of oil.

Alak told reporters her disciple/news, balances "expectations that economists referred to the Government not to high oil prices to the levels reached in past years or less and $ 100 over what risk cannot expect a high price for oil."

He added that "Government hedges without assuming a high price for a barrel of oil in oil prices came as balance in the market for calling up to 33 dollars a barrel."

He noted that "the Government faced a significant deficit in the current year after calculated for $ 45 per barrel and that this price was not present on the ground, especially in the first months of the current year after the arrival of the price to less than $ 30 a barrel, causing financial problems for the Iraqi State."

"The oil price is less than $ 8 world oil prices because of the differing quality of Iraqi oil on the world as well as the difficulty in transporting oil to States and security problems and other contributed to this difference between the price of oil and the financial world price Brent's."

The Government budget for next year totalling 2017 on the basis that the oil price is $ 35