Expectations of "OPEC" for the high price of Iraqi oil

08 October 2014

And explained that the Federal Ministry of Oil in oil prices for the last months of this year will see a rise, according to the expectations of OPEC, because they do not bear the reduction in the price of oil more than it exists now.

The spokesman said the ministry's Asim Jihad (IMN), that "external influences and above with wars in the region affected the price of oil, and speculation in prices weighed on the global oil price."

He stressed that "there are expectations of OPEC for high oil in the coming period, because they do not bear the reduction in prices to below $ 90 per barrel, pointing out that" the oil marketing company "Sumo" closely following the price change is thus dealing according to the variables. "

And Brent crude fell to a level of 93 dollars per barrel last week, dispelling some of the gains made in the previous sessions amid fears of an oversupply that has overshadowed the weak dollar.

It is noteworthy that the Oil Ministry announced earlier in the height of Iraq's oil exports to more than 76 million barrels for the month of September, where oil revenues amounted to seven billion dollars.


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