BAGHDAD joy pumice
in crisis fluctuation of oil prices in international markets, which caused a deficit in the budget based on revenues countries continue, recommended to the Commission on oil and energy parliamentary adoption price of $ 65 per barrel in the preparation of the budget year 2015.
Although the organization “OPEC” meeting Thursday to study oil market conditions and contribute to the improvement and maintenance on oil prices, expectations and estimates refer to the continuing decline or remain at the level of prices the same until the middle of next year.
emerged many tangled on the scene reasons led to the decline in oil prices since last August and up to now, by approximately $ 25.
Member of the Commission on oil and parliamentary power, Dr. Ibrahim Bahr al-Ulum said the “morning” in this regard: “multiple main reasons, including intense competition between conventional and non-conventional oils, and levels of good production in the United States of unconventional oil (shale)
Why competition is fair for the first time in the oil market as a light, along with the political conflict within OPEC, also led to supply over demand, although growth is weak demand in some major Asian countries. ”
consistent observers with a member of the Committee to the drop in oil prices recently underwent several reasons, including excess oil, which began to accumulate, estimated at about two million barrels,
as well as a slowdown in global economic growth after periods of rapid growth between the years 2002- 2008, along with the changes that the United States is seen from shale oil production and increase of up to 9 million barrels a day this year.
It is believed Bahr al-Ulum inability of the organization, “OPEC” to reach a solution to the problem and agree on determining the amount of production, what keeps the price vulnerable to the fluctuation of about rates, or fall, likely at the same time not arriving for less than $ 70 to $ 65.
Recommended for committee the government and the financial parliamentary adoption rate barrel to $ 65 in the preparation of the budget year 2015 to avoid damage expected.
He predicted Bahr al-Ulum that Iraq is playing a pivotal role in OPEC if the enjoyment of political and diplomatic relations with Saudi Arabia and Iran (two axes essential to the organization and play an active role in the decisions of all with the State that are consistent with policies) and to be a compromise between the two countries,
which is expected in the coming years, along with the growth of production in the oil market and compounded until the year 2020, and the expectations of owning a surplus of energy that will play a key role in the future.