Legislative power: oil agreement will raise oil prices to $60


2016-12-11


The Parliamentary Committee on oil and energy confirmed Sunday that oil agreement for oil producing countries would contribute to revitalize UPC oil prices to hit $60.

The Chairman said Ares Abdullah that "the oil agreement will impact positively on the economic situation in Iraq, by reviving the economy, high oil prices and therefore to the general situation of the country in the affirmative.

And Abdullah to "preliminary readings and estimates indicate that oil prices would rise to up to 60 dollars a barrel as the General and economic organizations follow oil Ministers of States".
Oil producers reached from inside the Organization of petroleum exporting countries [OPEC] and beyond, to the first joint agreement since 2001 to restrict crude production and ease the glut in supply markets.

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