Bloomberg News

Iraq May Cut Oil-Price Forecast for 2012 Budget to $80, MP Says

October 22, 2011

Oct. 22 (Bloomberg) -- Iraq may reduce the crude-oil price assumption it uses to calculate the state budget next year to $80 a barrel from the current $85, a member of the Iraqi parliament said.

“We think $80 a barrel is a very assuring price,” Haitham Al Jabouri, secretary of the parliament’s finance panel, told reporters today in Baghdad. “We don’t expect crude oil to drop below $80 a barrel.”

--Editors: Andrew Langley, Ana Monteiro

To contact the reporter on this story: Kadhim Ajrash in Baghdad at

To contact the editor responsible for this story: Maher Chmaytelli in Dubai at

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