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A Little Arithmetic

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A Little Arithmetic Empty A Little Arithmetic

Post by Thyncingman on Wed Jan 03, 2018 7:20 pm

Does anyone have any thoughts on the volume of USD (equivalent) passing through the Iraqi coffers monthly from oil alone?  One publication reported December 2017 Iraqi oil exports of 109, 573, 817 bbl.  Sold at $35 USD per bbl, that equates to more than $3.8 billion USD; over 4.4 trillion IQD.  Current Brent Crude price is appx $68 U.S.

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A Little Arithmetic Empty Re: A Little Arithmetic

Post by RamblerNash on Wed Jan 03, 2018 9:48 pm

Welcome to Dinar Daily!


Those dollars get divided up when you take into account of the cost of production, Government taxes, distribution, company profit, etc...


Here's an article that is recent where Abadi made a statement about cost of oil production:

https://www.dinardaily.net/t69700-abadi-the-cost-of-oil-production-is-11-thousand-dinars
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Post by Kevind53 on Wed Jan 03, 2018 11:04 pm

Given that their projected deficit is about 22 T Dinar, and the sale of oil is a good 90% of their budget, it probably does not make a big difference. However, I will observe that their margin is about 20-25% so of that maybe 1T is profit.

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