No justification for fears of a drop in oil prices

by **Ponee** Sun Nov 23, 2014 12:54 pm

Reduced economist Ahmed Abrihi of the impact of lower oils prices in world markets on the economy of Iraq.

He said Abrihi "morning" on the sidelines of a seminar Institute of progress for Development Studies said the agreement with the Kurdistan Regional be positive and signed by the financial distress experienced by the country, pointing out that the export of 150 000 barrels, as well as 250-300 thousand barrels another issue of Kirkuk oil through Kurdistan would give the general budget of more revenue, which granted more flexibility in the operational and capital expenditures, and reiterated that no justification for pessimism due to the descent of oil prices.
He pointed out that exports Iraqi oil through all export ports in the south and the north through the Turkish port of Ceyhan will achieve $ 76 billion in light of the expected oil prices and this enables the government to run the country to the fullest.
He noted that the Ministry of Finance required to manage financial resources in the form required that achieves the economic viability of the country .
In the meantime, oil prices rose and posted its first weekly gain in two months, and returned the price of Brent crude to above $ 80 a barrel, with the support of reducing China's interest rates and speculation that OPEC may agree next week to cut production Alinvt.obhsp Reuters Brent 1.03 dollars to 80.36 dollars a barrel at the settlement after jumping earlier $ 2.28 to $ 81.61 a barrel. US crude rose 66 cents to $ 76.51 a barrel at the settlement after he ascended to the highest level in the session to $ 77.83 a barrel. Brent 95 cents, or about 1.2 percent during the week to score the first weekly gain him after record losses over the eight weeks of crude Mttalah.uzad US 69 cents, or one percent during the week after losses for seven consecutive weeks.
and reduce China's central bank on Friday prices Standard interest rate for the first time in more than two years to reduce borrowing costs and boost the economy, which is heading towards a slower annual growth in 24 years.
boosted interest atmosphere of optimism cut between's customers Oil who expect that the Organization of Petroleum Exporting Countries agree on November 27 to cut production in a bid to boost prices raw.
revolve growing speculation that OPEC will cut production to halt the collapse of the market in which crude oil prices lose about 30 percent since June.

LINK -- Economist: no justification for fears of a drop in oil prices