Oil: We succeeded in achieving more than $75 billion during 2021

Ministry of Oil logo
 
02/03/2022

Economy News - Baghdad

The Undersecretary of the Ministry of Oil for Extraction Affairs confirmed the ministry’s success in achieving an increase in financial revenues for the year 2021, after it witnessed an increase in the total financial revenues derived from oil exports to (75,650) billion dollars, a noticeable increase over the expectations of last year’s budget .

The Undersecretary for Extraction Affairs, Karim Hattab, said that the achievement of financial revenues in excess of the expectations of the 2021 budget, despite the economic and health challenges represented by Covid 19 and beyond, has contributed greatly to covering a good percentage of the financial deficit of the government's budget for the mentioned year .

Hattab pointed to the importance of the commitment of the producing countries in (OPEC +) to the stability of oil markets, and to overcoming the crises that afflicted the economies of the countries of the world after the spread of the Corona pandemic, expressing his hope to continue achieving the required balance between supply and demand over the coming period, after the increase that will be supplemented To global markets by (OPEC +) with a quantity of (400) thousand barrels per day, starting from next March, and the rise of Iraq’s share to (4.370) million barrels per day, which is an important step to achieve additional financial revenues, stressing the importance of the stability of global markets, and Iraq’s keenness to adhere to With the (OPEC +) agreement, along with the producing countries, for more stability in the oil markets.

https://economy-news.net/content.php?id=27175