Oil prices are expected to rise to $ 80

08:55 - 11/05/2018


Oil expert Hamza al-Jawahri expected Friday, the rise of oil prices to more than $ 80 a barrel, indicating that Iraq will be able to repay its loans from the Central Bank and eliminate the budget deficit.

Al-Jawahri said in a statement to Al-Maaloumah that "oil prices are rising and will not return again, and it is hoped that it will reach more than $ 80 a barrel in the next few days."

"This rise came as a result of the US withdrawal from the nuclear agreement with Iran, and most of the oil-importing countries went to Iraq and the oil-producing Gulf states," he said.

He pointed out that "the first victim of high oil prices are consuming and importing countries, as the situation in the region leads to higher prices, but the countries participating in OPEC will work to find a unified plan of action to unite prices and work accordingly."

He added that "high oil prices will save Iraq from the budget deficit in addition to Iraq was able to pay the amount of loans for the Central Bank after Iraq had more than 80 billion dollars in cash reserves, and fell to $ 51 billion dollars as a result of the war on terrorism." End 25 n




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