World Bank reveals the loss of the Gulf $ 320 billion

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World Bank revealed for oil and energy advisor Mamdouh Salameh, Wednesday, for incurring the Gulf states heavy losses amounted to $ 320 billion due to flood the market with oil, pointing out that Saudi Arabia tried an old political flood the market and has proven its failure.

Salameh said in a speech during the Arab Strategy Forum in Dubai that "the $ 320 billion lost to the Gulf states due to flood the market with oil by increasing production policy."

Saudi Arabia warned the safety of the "risk of flooding the oil market because it is the policy of the Kingdom of the old tried and has failed."

The Prime Minister Haider al-Abadi warned Tuesday, that: not for Iraq's agreement to cut oil production for the failure of the OPEC agreement on reducing crude exports.

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