Almaalomah

Parliamentary energy: moves to reduce oil prices by 2019 to $ 46 a barrel

The parliamentary energy committee announced on Tuesday parliamentary movements to stabilize the price of a barrel of oil in the budget of $ 46 after the sudden drop in oil prices.

“The House of Representatives set the price of a barrel of oil with a budget of 2019 at 56 dollars, but it will cause a large deficit due to the sudden drop in oil prices,” said a member of the energy committee Muzaffar al-Fadl.

He explained that “the Energy Committee and in cooperation with the Finance Committee and the Strategic Planning Committee are working to reduce the price of a barrel of oil budget of 2019 to 46 dollars to reduce the deficit,” noting that “the decline is expected to fall below the current price.”

“OPEC oil exporters, including Iraq, are working on a proposal to reduce oil exports in order to raise oil prices,” he said.

The parliamentary Finance Committee announced last Sunday, the stabilization of the price of a barrel of oil with a budget of 2019 at $ 56 per barrel. Source