Iraqi Parliament to change the oil barrel's price in the 2021 budget

Shafaq News / The Parliamentary Finance Committee revealed a parliamentary move to change the oil barrel's price in the Iraqi state budget bill in 2021.

A member of the committee, Shirwan Mirza, told Shafaq News agency, "The price of a barrel of oil specified in the budget law draft is $ 42 and has not changed yet. At the same time, global prices exceed $ 55 per barrel of oil."

On December 21, 2020, the Iraqi Council of Ministers approved the country's fiscal budget law for 2021 and submitted it to Parliament to discuss and vote on it.

According to the draft, the budget estimated the price of a barrel of oil on the basis of the price of 42 dollars a barrel and an export rate of 3 million and 250 thousand barrels per day, including 250 thousand barrels produced in the Kurdistan region.