Middle East Economic Survey


No 36



Iraq Adopts $60/B Oil Price In 2010

The Iraqi cabinet has agreed to adopt an oil price assumption of $60/B in the 2010 federal budget with oil exports at 2.150mn b/d, the cabinet spokesman 'Ali al-Dabbagh was quoted as saying in the Iraqi press on 30 August. Iraq had based its 2009 budget on an oil price assumption of $50/B after revising it downwards from earlier estimates as the international oil price continued to plunge in the first...