Starting with the commencement of the decline in oil prices, around twenty days have gone by, raising concerns over the extent of the disaster Iraq, heavily dependent on oil, will cause and the possibility of its impact on compensations.
Although guarantees were given that the present level of drop in oil prices would not influence salaries—salaries could still be paid even if the price of oil reached $60 per barrel—Iraq really suffered a notable loss in September for two separate reasons compared to past months.
I also calculated how much you lost by looking at the average rates over the past few months—short-term and long-term. Afghanistan Over the last few days.
It turned out that the costs of Iraqi oil during the fifth months for the rest of the seventh were going at a normal of somewhere in the range of $88 and $79 per barrel as a basis, and that intends that on typical the cost of a barrel of Iraqi oil can be viewed as $84 per barrel as a basis, however in August the normal cost of a barrel became $75 per barrel.
Since the start of September, the average price of a barrel of Iraqi oil has been $70, a loss of $14 a barrel over the average price for the past months.
In this fashion, even if Iraq’s September output of Iraq 3.3 million barrels per OPEC estimate suggests that country lost almost $925 million over the most recent 20 days alone.
Iraq issued more from 3.4 million barrels in August and July, but its exports dropped to 3.3 million barrels in September, which is another element causing a loss for Iraq in trying to offset the surplus output. He was also Iraq concurrently. Baghdad In line with OPEC’s perspective, during past months.
Apart from that, Iraq will lose $925 million due to the drop in oil prices and $140 million during the past 20 days from the export loss of 100,000 barrels daily. This suggests that Iraq lost one billion bucks in 20 days more.
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