Member on the Energy Committee: Oil prices on the rise in the coming period
Date: 19/08/2012 07:33:08 Sunday
Baghdad (news) .. Likely member of the Committee on Energy and Oil MP / National Alliance / Susan Saad, an increase in oil prices in global markets during the coming period as a result of economic sanctions imposed on the International Iran what will lead to lack of Iranian oil exports of OPEC.
Said Saad (of the Agency news): Iran is one of the large countries that have a weight in the oil markets global Any impact on oil production and exports Vanma will affect the size of the width of the oil in the international markets and therefore will either increase the prices of oil or decline.
She explained: that if the tightening international economic sanctions imposed on Iran by the UN Security Council will lead to the failure of some countries from importing Iranian oil for fear of attached penalties when helping them to Iran, therefore, Iranís oil exports would be reduced and this will affect the World Petroleum in terms of increasing prices , because it will reduce the supply of oil in the light of the growing demand for purchase.
She noted: that these variables will serve the national economy being supported entirely on oil When increasing prices in the global markets, the economy will rebound, but this does not mean that the remains of the national economy dependent on revenue unilaterally but must diversify oil revenues through the activation of other economic sectors because oil revenues are not fixed, but they are affected by international circumstances.