Iraq News Oil Prices Increasing Due to Libya's Oil Crash; Supply and Demand
Iraq News Oil Prices Increasing Due to Libya's Oil Crash; Supply and Demand in Europe and the Middle East
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VIDEO NEWS CONTENT
Hi, guys Sandy Ingram here welcome to the education matrix channel. In today's video, we have important news on the status of crude oil around the world what is causing the problem, and the price increase as a result but first, you should know the existing President of Iraq was nominated for a second term by the ruling Kurdish party. We do not yet know the fate of the prime minister's position. What is most important about this video is the status of oil in Europe and the Middle East here's what's happening; The United States forecasts that OPEC's petroleum production will increase to nearly 2.7 million barrels per day in 2022 the largest year-over-year increase in OPEC production since 2004. Now Libya’s oil production crashed due to infrastructure maintenance problems and outages due to blockades at four oil fields since the end of December. Armed factions within Libya stop the production of the oil fields. Iraq and other OPEC members will need to increase oil production to make up for the lost oil supply from Libya because the supply and demand oil prices did increase during the past week and are holding steady right at around 86 dollars and 46 cents per barrel. Some economists forecast a hundred dollars a barrel in the coming months while this may be good news for Iraq this type of forecast is wreaking havoc on the global financial platforms. In this article, we learn Iraqi Kurds learn mandarin to get jobs from Chinese companies we learn about Iraq’s Uber-type business model has the largest funding of any startup in Iraq’s history. You may want to understand about the channel's community section is there is a separate incident almost every week involving ISIS drones and US troops convoy and envoy attacks these events do not stop the normal flow of life in Iraq. People go about their day and week with little incident until the area they live and work in is disrupted. It is important to understand that Iraq as a whole is peaceful within the communities and neighborhoods. All and any violent reports are placed into the community section BUY IRAQI DINARS
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