Iraqi Media Network

Iraqi Media Network

Iraqi Media Network

Experts expect: 2017 will see an economic recovery

Farah pumice experts expect to see a new year (2017) an economic recovery compared to last year, Marjaheen continued high sale of crude oil prices in world markets. The expert in the industrial sector, Aqeel al-Saadi “morning”: that “the government’s initiative to reform the economy will take a wider scope with the pursuit of the central bank to launch the industrial and agricultural loans, as well as supporting the private sector legislation of laws and the transition to a market economy.” He said al-Saadi “the importance of investing government initiatives during 2017 and applied on the ground.”
Sale of his outlets, said the new financial expert, Thamer al-Azzawi that, “the year will see a recovery in the capital market with the trend to increase foreign exchange and provided the sale of the citizens outlets, as well as the keenness of the central bank to maintain the value of the Iraqi dinar and the dollar exchange rate.” Al-Azzawi said the “morning” that “2017 will witness a greater reliance on technology in financial transactions, as well as facilitate the citizens in banking transactions,” likely to witness the Iraq Stock Exchange traded wider than last year, which saw trading trillion shares of shares of joint stock companies Iraqi in it, because of the direction the state to move to a market economy.”
Oil markets, in turn, predicted expert Rahim Al Shammari rise in the sale of crude oil prices in world markets. Al-Shammari said the “morning”: that “OPEC countries outside the Organization agreement will begin its application on Monday, which means that the coming months will witness a rise in prices,” likely that “The price of a barrel of crude oil between $ 55 to $ 65.” Oil prices declined slightly in the last trading day settlement last year, but it has achieved the biggest annual gain since 2009 after the Organization of Petroleum Exporting Countries agreed (OPEC) with major producers outside the cut crude production to reduce the glut of global supply, which put pressure on prices in more than two years.
Drilling rigs and increased the number of US rigs by two platforms in the ninth weekly increase in a row on as reported by Baker Hughes oil services company. But the total number of which amounted to 525 platform in the last week of the year is still below last year’s level by 11 platform. It fell WTI US mediator in the futures five cents, or about 0.1 percent to $ 53.72 a barrel as the global London Brent crude down three cents, or about 0.1 percent to $ 56.82 a barrel. Brent about 52 percent this year, while US crude rose about 45 percent to its annual Mkasphma Van largest since 2009, when Brent rose WTI 78 percent and 71 percent respectively.
Oil prices have slid since the summer of 2014 more than $ 100 a barrel because of oversupply, which is due to reasons including the US shale oil boom. And it intensified the downward trend of prices later in that year, while Saudi Arabia has refused to conclude any agreement for OPEC to cut production and opted for the defense of the market share. Historic agreement but historically OPEC agreement concerning the reduction of production was reached for three months starting from last September, reflecting the return of the organization, which includes 13 members to adopt the old goal of price protection.
Oman and informed customers it would cut allocated to them under fixed-term contracts of contractual quantities of five percent in March but did not say whether the supply cuts will continue after that. The OPEC basket price stood at his last day of $ 51, and includes a basket “OPEC” 14 products, are: raw deserts of Algeria and heavy Iranian and Basra ore Kuwait export crude Libyan Seder and Bonny Nigerian crude maritime Qatari Saudi Arabian light crude ore Marie Venezuelan Girassol Angolan The Orient Ecuador and Rabi light Gabonese and Indonesian Minas.

 

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