DINAR REVALUATION

Tuesday, October 15, 2024

Government Advisor: Tensions And War In The Region May Lead To A Jump In Oil Prices, 15 OCT

Government Advisor: Tensions And War In The Region May Lead To A Jump In Oil Prices

Energy Economy News – Baghdad The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, identified on Monday the indicators of the rise in oil prices in global markets, and while he attributed them to two basic variables, he indicated that if tensions and war continue in the region, a jump in prices is expected.

Saleh said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the oil asset cycle is subject to accelerated upward volatility through current energy market indicators and two basic variables that affect oil supply and demand in the world: the first is OPEC+ decisions to reduce oil production on the production of OPEC countries themselves and their allies, as OPEC+ has currently implemented significant oil production cuts amounting to 5.86 million barrels per day."

He added, "These cuts consist of two parts: the first is a reduction of 3.66 million barrels per day extended until the end of 2025, and the other is an additional voluntary reduction of 2.2 million barrels per day that remains in effect until September 2024."

He pointed out that "the cuts come to remove the current oil glut, which is affected by the decline in growth in the world's most important energy-consuming economies, China," noting that "the second variable is the geopolitical situation and the war taking place in the two energy basin regions of the world, namely the Russian-Ukrainian war and the other is the ongoing war in the Middle East, especially the Gaza and Lebanon war with the Zionist entity and its effects on the oil-producing Gulf region, which dominates more than 50% of global oil exports."

He continued, "If military operations or geopolitical tensions continue in the two regions, oil prices are expected to jump." 128 views Added 10/14/2024 - https://economy-news.net/content.php?id=48705

INTEL UPDATE BY MIKE BARA, 15 OCT

MIKE BARA

Guys, apparently I misinterpreted Sunday's information.

The Bondholder's team was only told they would be "contacted" about the funds process in the "midnight-to-midnight" window. Turns out they were.

They have now been told that funds are good to release starting tomorrow. I know the time but can't say it.

So we wait another day. Might be an interesting show with Jen tomorrow.

My apologies for not getting what I was told quite right.

UPDATE ABOUT THE BOND SIDE, CURRENCY AUCTION STOP BY MIKE BARA, MARKZ & ...

Parliamentary Finance: 2025 budget tables must be realistic, 15 OCT

Moeen Al-Kadhimi, a member of the Parliamentary Finance Committee, emphasized today, Monday, the significance of reducing the financial deficit by diversifying revenues from sources other than oil.

“The volume of expenditures in the 2024 budget amounted to only 120 trillion dinars out of 211 trillion dinars, so the 2025 budget tables submitted by the government to Parliament must be realistic tables before the end of this year,” Al-Kadhimi stated in a statement to

He emphasized “the importance of diversifying non-oil revenues as a means of reducing the financial deficit, in addition to the revenues generated from self-financing institutions” and “the need to formulate the 2025 budget schedules realistically, with what is needed in the operational and investment aspects, away from the increase that occurred this year.”

He said, “Relying on oil sales as a major source for the Iraqi treasury still represents a major challenge, but in return there are efforts to increase non-oil revenues during the next phase.” He was referring to the situation in Iraq.

Mazhar Muhammad Salih, the Prime Minister’s financial advisor, previously stated that the Ministry of Finance is working on the general budget tables for the year 2025 and highlighted the most significant pillars that will be included in the budget for the following year.

EXCERPTS FROM MARKZ: "THEY HAVE BEEN TESTING FOR AWHILE NOW" , 15 OCT

EXCERPTS FROM MARKZ

Member: Wolverine said Whales are testing the QFS payment system ...

MZ: they have been testing for awhile now…..I absolutely agree with that.

Member: I think the BRICS Summit is going to be huge…just 2 weeks away

MZ: I am looking forward to the BRICS meetings this month.

Member; What is your gut feeling Mark?

MZ: My gut feeling is screaming I’m going to finally get to call it quits before Halloween. I am so darn hopeful we are on the short and skinny side of this thing.