Zig’s Place Chatroom News Thursday AM 10-28-21

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Butterfly   Abdul Hassan Al-Shammari to / Nina /: Preparing the budget at a price of 60 dollars for oil .. It is reasonable if it is free of deficit

Thursday 28 October 2021 The economic expert, Abdul Hassan Al-Shammari, confirmed: “The preparation of next year’s budget on the basis of the price of 60 dollars per barrel of oil … is reasonable if it is free of deficit.”

Al-Shammari told the National Iraqi News Agency ( NINA ): “The most important issue is the stability of oil prices during the next year, so the price of $60 is very reasonable on the basis that the budget is free of deficit, with imports being greater than expenditures.”

He added: “There must be large allocations for investment projects,” noting: “The next year will witness a decline in unemployment if the budget is planned by managing money on the right foundations.”

He explained that: Next year may witness, if oil prices remain on their rise, a decline in poverty and a decrease in its percentage, indicating. https://ninanews.com/Website/News/Details?key=935736

butterfly   2021-10-28 02:54   Shafaq News/ Oil prices slumped to their lowest in two weeks after official figures showed a surprise jump in U.S. inventories of crude, and rising cases of COVID-19 in Europe, Russia, and some outbreaks of infections in China dented hopes for an economic recovery.

Brent crude dropped $1.58, or 1.9%, to $83.00 a barrel by 0502 GMT, having hit a two-week low of $82.32 earlier and fallen by 2.1% in the previous session.

U.S. oil fell $1.39, or 1.7%, to $81.27 a barrel, also a one-week low, after dropping 2.4% on Wednesday.

Outbreaks of coronavirus infections in China and record deaths and the threat of lockdowns in Russia, along with rising cases in western Europe were putting the brakes on a multi-week rally in oil prices.

“A surge in new cases of COVID-19 threatens to disrupt the recovery in oil demand,” ANZ Research commodities strategists Daniel Hynes and Soni Kumari said in a new report on Thursday.

In the U.S., the economy likely grew at the slowest rate in more than twelve months in the June-September quarter amid a resurgence of COVID-19 infections, amid strained global supply chains and global shortages of goods like autos.

Crude stocks rose by 4.3 million barrels last week, the U.S. Energy Department said, more than double the 1.9 million-barrel gain forecast by analysts.

The “hefty” stock build came “on the back of a large jump in net imports of crude oil and still sluggish refinery processing,” Citi Research commodities analysts said in a note.

Still, gasoline stocks fell by 2 million barrels to the lowest in nearly four years, even as U.S. consumers struggle with rising prices to fill their tanks.

At the WTI delivery hub in Cushing, Oklahoma, crude storage is the most depleted in three years, with prices for longer-dated futures contracts indicating supplies will stay low for months.   Source: Reuters

butterfly   2021-10-28 05:22   Shafaq News/ A delegation from the Coordination Framework will convene with the Sadrist movement’s negotiation committee to discuss prospects for the upcoming federal cabinet.

A source inside Ammar al-Hakim, the leader of al-Hekma movement, revealed that the meeting will be held next week in the absence of the State of Law Coalition.

“The head of the State of Law Coalition, Nouri al-Maliki, or whoever represents him will not be a part of the delegation because the Sadrists refuse to discuss the current situation or the government formation with al-Maliki, or who represents him,” the source elaborated.

The Coordination Framework, an umbrella body set up in the aftermath of the anti-establishment protests that emerged in Oct. 2019, brings together key Shiite political blocs.

Key members include former premiers Nouri Al-Maliki (2006-14) and Haidar Al-Abadi (2014-18), in addition to al-Fatah Alliance leader Hadi al-Ameri, al-Hekma Movement chief Ammar al-Hakim, and al-Hashd al-Shaabi (Popular Mobilization Forces-PMF) chairman Falih Al-Fayyadh. Of note, Muqtada al-Sadr left the Coordination Framework in July this year.

The Sadrist movement has assigned four members to a negotiating committee that will form the Iraqi government following its anticipated victory in the early parliamentary elections.

Al-Sadr has granted the committee chaired by Hussein al-Athari “full power” in matters related to political and parliamentary alliances.

The Sadrists are the main force in the cabinet’s lineup that is expected to be assembled after the Supreme Federal Court ratifies the final results of the polls. Al-Sadr has already laid the foundations for the policies the government will pursue. https://www.shafaq.com/en/Iraq-News/In-the-absence-of-al-Maliki-the-Coordination-Framework-to-convene-with-the-Sadrist-movement

butterfly   Iraq could vaccinate children against Covid-19 as cases increase

Vaccine hesitancy is high as authorities fail to persuade public to get inoculated https://www.thenationalnews.com/mena/iraq/2021/10/28/iraq-could-vaccinate-children-against-covid-19-as-cases-increase/

Butterfly   ISIS-K could launch international attacks as soon as six months, defense official warns https://www.yahoo.com/now/isis-k-could-launch-international-171100588.html

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