IRAQ 

Iraq Proposes 2013 Budget Oil Price Increase
 
Iraq is proposing to hike the oil price it uses for its 2013 budget, and it is likely that other MENA OPEC members will follow suit. It is using a price of $90/B in its preliminary 2013 budget, which has yet to be approved by the cabinet. This is up from 2012’s $85/B. The raise comes as the country looks to increase spending on projects and government salaries, taking total outlay to $118bn. This is up considerably from...