Member of the Parliamentary Oil and Gas Committee, Zainab Al-Moussawi, said that global indicators indicate that crude oil prices continue to rise until the end of this year, as they recently recorded more than $75 per barrel.

Al-Moussawi said in a statement: “The rise in crude oil prices will reflect positively on the Iraqi economy because it maximizes its oil revenues and enables it to overcome the negative financial impact resulting from the suspension of exports from the Kurdistan and Kirkuk fields, which amount to 470,000 barrels per day.”

It pointed out, “After the rise in crude prices and addressing the deficit as a result of the financial surplus, we stress the need to make optimal use of it in investing in developing industry and agriculture and supporting the foundations of the real private sector, to operate factories and produce goods and services locally in conjunction with imposing taxes on goods that are produced locally that not exceed the prices of foreign commodities, and activate the role of control over local products.”

Source: National Iraqi News Agency