Iraq 1H Oil Exports Exceed $45 billion

The spokesman of the Ministry of  Oil, Assem Jihad, told Alsumaria News on Sunday that Iraq has exported more than $45 billion worth of oil in the first half of the 2012.

Jihad said that "the surplus in the budget for Iraq will reflect positively on the Iraqi economy and thus help the government create a supplementary budget to support the budgets of other ministries, particularly in the services".

Jihad continued "the continuing decline in global oil prices will push the Organization of Petroleum Exporting Countries to hold an emergency meeting to cut production again to maintain the price of oil."

(Source: Al Sumaria News)

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