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Page added on March 14, 2020

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Iraqi economic crisis looms as oil prices collapse

Iraqi economic crisis looms as oil prices collapse thumbnail

Crashing oil prices are likely to put a massive strain on Iraq’s economy, including a severe budget shortfall that could further undermine the government’s ability to respond to myriad crises.

If Brent crude remains near $30 per barrel, due to a price war between Russia and Saudi Arabia and the economic fallout from the spread of the new coronavirus (COVID-19), Iraq is likely to earn less than $3 billion per month, given its recent rate of exports – leaving a monthly deficit of more than $2 billion just to pay current expenditures, according to an Iraq Oil Report analysis based on recent export averages and Ministry of Finance data.

iraqoilreport.com



18 Comments on "Iraqi economic crisis looms as oil prices collapse"

  1. Dredd on Sat, 14th Mar 2020 8:40 am 

    Karma ghosts (The Ghost Plumes – 10).

  2. Anonymouse on Sat, 14th Mar 2020 12:23 pm 

    Looks like the jewnighted snakes are reaping all manner of benefits from the so-called ‘pandemic’. You know, the one they probably created in the first place. Iraq, who recently told uS farces to GTFO, is now set to suffer even more for their impertinence. Not unlike Iran with its surprisingly large number of case….

  3. Chickin Widdle on Sat, 14th Mar 2020 12:34 pm 

    the jewnighted snakes are reaping all manner of benefits from the so-called ‘pandemic’. You know, the one they probably created in the first place. Iraq, who recently told uS farces to GTFO, is now set to suffer even more for their impertinence. Not unlike Iran with its surprisingly large number of case….

  4. Anonymouse on Sat, 14th Mar 2020 2:42 pm 

    New sock eh exceptionalturd? Got nothing better to do with your worthless life and the two working brain cells except copy and stalk the intelligent posters? You really do need to sit down, in a straight jacket, and have a nice chat with a team of mental health specialists.

  5. Anonymouse on Sat, 14th Mar 2020 2:54 pm 

    Newwwww sock eh juanPee? Got nothing better to do with your worthless life and the two working brain cells except copy and stalk the intelligent posters? You really do need to sit down, in a straight jacket, and have a nice chat with a team of mental health specialists. I know I need help.

  6. Anonymouse on Sat, 14th Mar 2020 3:21 pm 

    LoL, ok, whatever exceptionaltard. Im sure you got a full day of stalking, and copying and pricking, and generally being yourself planned, so go crazy.

    No really. Literally, crazy.

  7. Anonymouse on Sat, 14th Mar 2020 3:24 pm 

    LoL, ok, whatever juanPee. Im sure you got a full day of stalking, and copying and pricking, and generally being yourself planned, so go crazy.
    No really. Literally, crazy. I know I need help

  8. Abraham van Helsing on Sun, 15th Mar 2020 4:36 am 

    E-vehicle market data.

    Per capita penetration country ranking:

    1. Norway
    2. Iceland
    3. Netherlands
    4. Sweden

    https://en.wikipedia.org/wiki/Electric_car_use_by_country

    Dutch e-vehicle data februari 2020:

    https://cleantechnica.com/2020/03/12/netherlands-ev-sales-report-opel-ampera-e-8-in-overall-auto-market-in-february/

    EV-share 12%

  9. Abraham van Helsing on Sun, 15th Mar 2020 4:39 am 

    Bioplastics.

    The prospect of bio-degradable plastic:

    https://cleantechnica.com/2020/03/13/surprise-ocean-could-help-solve-own-ocean-plastic-problem/

    “Surprise! Ocean Could Help Solve Own Ocean Plastic Problem”

  10. Abraham van Helsing on Sun, 15th Mar 2020 4:44 am 

    Volkswagen ID.3 e-vehicle will be cheaper than diesel/gasoline equivalent in terms of cost of ownership:

    https://cleantechnica.com/2020/03/14/volkswagen-confirms-summer-launch-for-id-3-says-it-will-cost-less-than-ice-models/

    “Volkswagen Confirms Summer Launch For ID.3, Says It Will Cost Less Than ICE Models”

  11. Davy on Sun, 15th Mar 2020 5:29 am 

    “Volkswagen ID.3 e-vehicle will be cheaper than diesel/gasoline equivalent in terms of cost of ownership:”

    No data to back that assertion up though, cloggo. This is typical of the EV propaganda fake green clean technica site. Occasionally clena technica says something worth reading but most of the time it flashes FAKE GREEN. The virus will likely have killed the car culture as we know it. The world is going to be poorer and it is uncertain if we will even be able to afford expensive new cars.

  12. Abraham van Helsing on Sun, 15th Mar 2020 7:21 am 

    “No data to back that assertion up though, cloggo.”

    As always empire dave volunteers to talk any new development into the ground, as this guy has zero patriarchal qualities. Just another useless Marxist.

    “There have been rumors suggesting Volkswagen is having major problems with the software installed in the first cars, which started rolling off the assembly line last November. The press release refers to that issue in oblique terms. “During production, the current software version will initially be transferred to the vehicle. Over subsequent months, the digital functions will be regularly updated.” The suggestion is, “Don’t worry, people, We’ve got this covered.”

    The company is basing its claim that the ID.3 will be less expensive than an equivalent vehicle with a gasoline or diesel engine on a “true cost of ownership” analysis. Add up all the costs associated with owning an automobile — purchase price, registration fees, fuel, maintenance, insurance, and so forth. The bottom line is what is known as TCO.”

    You want data? Here you have data:

    1 kWh brings you ca. 10 km in a modest sedan. A kWh costs perhaps 10 cent in the US or 20 cent in Europe (23 cent in Holland).

    In order to drive the same amount with gasoline, you need slightly less than a liter, which in Europe costs 150 cents.

    See? That’s a factor of SIX to the fuel price advantage of e-vehicles.

    Furthermore, e-vehicles are in principle much cheaper to build and require far less maintenance than gasoline cars. The only pricey thing is the battery, but battery prices are collapsing as well.

    This “poor man’s Tesla” will be sold soon in Europe for a meager 11k:

    https://deepresource.wordpress.com/2019/12/08/renault-k-ze-the-poor-mans-tesla/

    E-vehicles are heading for TOTAL VICTORY!

    Poor empire dave. Has constructed himself a life based on lies, namely that the entire world is going to collapse around him, with him surviving on his pathetic “Ark of Noah with goats”.

  13. Abraham van Helsing on Sun, 15th Mar 2020 7:33 am 

    “Terrifying video shows how Italian newspaper obituary page has expanded from one to ten pages in town where 146 people have died in ONE WEEK – as secret memo reveals over-80s could be ‘left to die'”

    https://www.dailymail.co.uk/news/article-8113675/Italian-town-centre-coronavirus-pandemic-holding-funeral-30-minutes.html

    Paradoxically, Italy will come out of this crisis stronger than before, with housing prices coming down strongly.

  14. Abraham van Helsing on Sun, 15th Mar 2020 7:48 am 

    Corona is not the Black Death, not in a modern society, following the rules of science rather than superstition.

    I think I had Corona myself, although I wasn’t tested as the symptoms were too mild. I must have picked it up in the Dutch departure airport that brought me to the holiday resort in the Black Sea area, last month. 14 days later, back in Holland, I got fever that lasted for 5 days, which has never happened to me before, with an high 39C max. Standard flu with me is 3 days fever and a pile of paper handkerchiefs.

    This “flu” was very different, very dry with no mucus and a nasty dry cough. When the fever went, I had a few worrisome days as I was afraid that the characteristic 2nd week pneumonia would materialize. It didn’t. I had a very bad “ash taste” in my mouth, as if somebody had tilted an ash tray in my mouth in my sleep. Probably the taste of millions of Corona corpses.lol

    I feel fine now, can walk for hours in the forest again and work in my garden/green house to prepare for the harvest this Summer, which this year I will take very serious, even if I am busy to prepare for the latest computer certification to start working again as a freelancer in the 2nd half of this year.

    I’m glad I picked up cold showering as of January 1 this year and managed to get used to a few minutes of full blast cold shower every day, greatly enhancing your robustness and the strength of your immune system. A daily visit to the gym over the years certainly must have helped as well.

    The fact that I am probably immune for a year or so against Corona gives me a comfortable feeling. I belonged to these 80-90% who could relatively easily fend off the pandemic. For the moment I have made it safe to the other side.

    #FingersCrossed

  15. Davy on Sun, 15th Mar 2020 8:05 am 

    “Poor empire dave. Has constructed himself a life based on lies, namely that the entire world is going to collapse around him, with him surviving on his pathetic “Ark of Noah with goats”.

    Fuel prices are diving cloggo and batteries may not be available or very expensive. What is the cost of the vehicle? Lots of the usual assumptions and the ignoring of economics and the systematic science of pandemics in a globalized world. You are a FRAUD. BTW, I would like to get an EV eventually but I am not going to let you blow air up my ass like you try to do to others that EV’ are a winner when they are most certainly not t the moment.

  16. Davy on Sun, 15th Mar 2020 8:15 am 

    ‘Corona is not the Black Death, not in a modern society, following the rules of science rather than superstition. I think I had Corona myself, although I wasn’t tested as the symptoms were too mild. I must have picked it up in the Dutch departure airport that brought me to the holiday resort in the Black Sea area, last month. 14 days later, back in Holland, I got fever that lasted for 5 days, which has never happened to me before, with an high 39C max. Standard flu with me is 3 days fever and a pile of paper handkerchiefs.”

    OH, boy, here we go with the cloggo putting lipstick on his techno optimistic pig. Cloggo, even if you got the virus you can still get it again and worse the second time. Society is much more at risk than the black death period because of systematic reasons.

    “This “flu” was very different, very dry with no mucus and a nasty dry cough. When the fever went, I had a few worrisome days as I was afraid that the characteristic 2nd week pneumonia would materialize. It didn’t. I had a very bad “ash taste” in my mouth, as if somebody had tilted an ash tray in my mouth in my sleep. Probably the taste of millions of Corona corpses.lol”

    LOLol

    “I feel fine now, can walk for hours in the forest again and work in my garden/green house to prepare for the harvest this Summer, which this year I will take very serious, even if I am busy to prepare for the latest computer certification to start working again as a freelancer in the 2nd half of this year.”

    Cloggo, your little garden is a good idea but there is so much more involved to prep and survival. Your digital world may not materialize after this pandemic where there is even a need for your freelance effort. Soon you might be working long hours in one of those dutch greenhouses

    “I’m glad I picked up cold showering as of January 1 this year and managed to get used to a few minutes of full blast cold shower every day, greatly enhancing your robustness and the strength of your immune system. A daily visit to the gym over the years certainly must have helped as well.”

    Superstitious cloggo, LMFAO

    “The fact that I am probably immune for a year or so against Corona gives me a comfortable feeling. I belonged to these 80-90% who could relatively easily fend off the pandemic. For the moment I have made it safe to the other side. #FingersCrossed”

    Of course, the cloggo is going to think he is immune. Your dangers are just getting started cloggo and it won’t be all the virus you need to worry about. You live in a postage stamp country in overshoot with population and consumption. You have a big ass wake up call coming. Tell us all about the golden age of 100% renewables and techno optimistic frontiers of the master race. ROTFLO

  17. Davy on Sun, 15th Mar 2020 8:20 am 

    “Paradoxically, Italy will come out of this crisis stronger than before, with housing prices coming down strongly.”

    WOW WTF did the cloggo just say?? You are one stupid MF cloggo. First there will be so much economic activity lost there will be no recovery like you are flattering yourself with. Second the economics of housing prices diving is not good. You are such and economic idiot it is amazing. Stable housing prices in a realistic pricing environment is the key cloggo not high or low.

  18. Davy on Sun, 15th Mar 2020 8:25 am 

    “Not Just Seniors: French Doctors Report 50% Of ICU Patients Under 60 Years Old, Netherlands Under 50”
    https://tinyurl.com/uwxymer zero hedge

    “It’s beginning to look like someone’s lying, as both French and Dutch medical professionals are reporting that half of coronavirus ICU patients are under the age of 60 and 50-years-old respectively. “MORE THAN 50% OF THE 300 #COVIDー19 CASES IN CRITICAL CONDITION IN FRANCE ARE UNDER 60,”… Meanwhile in the Netherlands, over half are reportedly under 50 years old. “Today there are between forty and fifty corona patients in critical condition on Dutch intensive care units. “More than half of those patients are under fifty years old. There are also young people. “” That says chairman of the Dutch Association for Intensive Care (NVIC) Diederik Gommers, in an interview with this site.” -AD.nl…The reports suggest that COVID-19 is more than just a “boomer remover” – a phrase made popular by younger generations who think they’re invincible. Considering that US hospitals are projected to be completely full come mid-May, the implications of the coronavirus impacting more than just the elderly are significant. The new reports of younger ICU patients echo unconfirmed accounts from Italian doctors… In which case, reports that COVID-19 is primarily affecting the elderly may be greatly exaggerated.”

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