of preparing the federal budget project to adopt the sale price per barrel below $ 60.

The committee’s member , Ibrahim Bahr al-Ulum told “Shafaq News", that "there are calls for the adoption of the price of a barrel of oil in 2015 budget to below $ 60 per barrel instead of the previous proposal of $64."

Bahr al-Ulum added that "There are no fears of a financial crisis, Iraq has a large financial reserves, in addition to its ability to raise oil production, but those in charge of the economic sector must take advantage of the crisis to rebuild unable economy to resist any Porosity in oil prices in global markets."

The sale of oil prices in world markets (OPEC) has witnessed a decrease over the past few weeks after arrived to $ 60 rates, which caused confusion among the Iraqi government and those in charge of the preparation of the federal budget for 2015 project.

The price in global markets drop after Saudi Arabia undertook to sharply cut the official selling price of crude going to Asia and the United States last week.

Iraq relies 95% on oil in the annual general budget, while the industrial sector projects are still not eligible to be a main source of the Iraqi imports because of its exposure to neglect over the past 10 years.