US report: Iraq needs $95 oil price to balance its budget
S&P Global Commodity Insights revealed on Saturday that Iraq needs an oil price of $92 per barrel to balance its budget this year.
According to the agency’s report on the oil prices needed by the Middle East and North Africa region to balance its national budgets for 2025, which was reviewed by Shafaq News Agency, “Iraq needs an average price of $95 per barrel to balance its national budget.”
He added , “The highest average oil price required by oil-producing countries to balance their national budgets was Iran’s, at $122 per barrel, followed by Bahrain at $107 per barrel, and then Algeria at $93 per barrel.”
She continued, “Kuwait needs an average price of $89 per barrel, followed by Oman at $80, Saudi Arabia at $77, Qatar at $64, and the UAE is the lowest-priced country with an average price of $47.”
According to the agency, “Iraq is selling heavy crude oil at $66 and medium crude oil at $68.”
Shafaq.com