Al-Abadi: Iraq needs the price of a barrel of oil of 60 dollars


Iraq’s prime minister, said Iraq needs to up the price of a barrel of oil for $ 60, in order to fill the general budget deficit.

He said on the sidelines of a news conference on Tuesday that the Iraqi government that depends almost entirely on oil production to fund spending since the decline in crude oil prices in 2014, according to the agency.

And he explained that during 2014, dominated the organization of the Islamic state over vast parts of the territory of Iraq and that Iraq is the second largest oil producer in OPEC after Saudi Arabia.

He said Iraq’s oil minister on 19 February, that the oil reserves rose to 153 billion barrels after it was 143 billion barrels, through the discovery of seven oil fields contributed to add 10 billion barrels.

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