Baghdad - Member of the Parliamentary Oil, Gas and Natural Resources Committee, Zainab Jumaa Al-Moussawi, expected today, Monday, that crude oil prices will rise to more than $150 per barrel in global markets during the next two months.

Al-Moussawi said in a statement: “Global oil markets are rapidly affected by changing conditions in different countries, specifically the Middle East region.”

She explained: “There are two factors for the rise in prices. The first is the Zionist war on the Gaza Strip in Palestine, and the second factor is the voluntary reduction of production countries, including Russia, Saudi Arabia and Iraq.”

Al-Moussawi added: “The two factors will affect the oil sector globally and raise prices to more than $150 per barrel, which will create a financial surplus in the federal budget and leave the country’s financial deficit.”/End

Source: National Iraqi News Agency