TNT: Tishwash: Economist: The Price Of A Barrel Of Oil May Reach 130 Dollars Next Winter
The economic expert, Dr. Safwan Qusay, suggested that the price of a barrel of oil would reach 130 dollars during the coming winter, pointing to the possibility of investing the increase in revenues and converting them into internal investments and activating the private sector to absorb unemployment and introduce new revenues to the country.
Qusay told Al-Maalouma, “The price of oil will depend on the amount of releases from strategic storage for China, Japan, America and the European Union, who own strategic reserves, as consumption is scheduled to be at a rate of 60 million barrels per month.”
He added that “the mentioned countries and if they raise the percentage of consumption from the strategic storage, it is possible to control the price, and in the end, the prices will remain at their position during the current period, but it may reach in the winter to 130 dollars per barrel.”
And he indicated that “Iraq can invest the surplus of oil prices in absorbing unemployment and poverty, developing infrastructure, and resorting to investment to employ the unemployed and activate the private sector to bring in new revenues.” Link
