There are some people who are unclear … when I say Iraq is relying too much on oil. This is an issue. That’s why there’s no stability in the economy of Iraq. When 95% of your economy is based on oil sales then there’s always a potential for the economy to take a dive if for some reason oil prices drop on Iraq. We saw that happen in 2019/2020 when the oil prices dropped…It also affected their liquidity…Iraq has set the price per barrel of oil in the budget at $70 per barrel and right now Brent crude oil is selling at $71. This is not good. If it slips any more then Iraq is going to definitely be running in a deficit which you don’t want.
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