Iraq issues 2017 budget deficit at USD42 barrel

28 Sep 2016

(MENAFN) Iraq issued next year’s budget, which is assumed that the country will be exporting more crude and at a higher price than in recent months.Moreover, the OPEC nation predicts to sell 3.75mn barrels per day of crude at a price of USD42 a barrel.However, the 2017 budget project a decline in spending to USD77.51bn, reflecting the sharp drop in oil prices and revenues since 2014.On the other hand, the government’s crude oil ran at a rate of 3.23mn barrels per day in August, selling at average price of USD39.25 per barrel.

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