Yes, I’m a bit excited. OIL – Oil is a big deal. WTI is stable at just under $40. The previous Iraqi Budget was published at an expected rate higher than $40, and throughout 2019 the price of Oil never quite hit the mark they established for it, yet Iraq was able to sustain operations even at the lower price. Even more impressive is the fact that when Oil went to negative rates recently, Iraq didn’t crumble. They survived. And even more impressive than that is. Article: “Is OPEC’s No.2 Finally Complying With Output Cuts?” Quote: “OPEC’s second-largest producer, Iraq, which also happens to be the least compliant member of OPEC+ since the group started managing supply to the market in 2017, may have finally started taking its obligations seriously.” Oil, and Iraq, is on the move.
The OPEC production cut agreement has made a significant impact on oil and it’s place in the world economy. Or, you could say the world economy and the price of oil – they are intertwined. As we move forward in 2020, this is a significant factor in Iraq’s ability to increase the value of their financial tools… and we are on the right path. Kazzamie is kicking butt. Seriously – I have a list of over a dozen articles that I love from just the last few days. The only thing we are missing right now is the HCL. And even that “smells” close.