Iraq to Cut Oil Price in Federal Budget Amid Plummeting Market
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Iraq, OPEC’s second-largest producer, plans to cut its oil-price assumption in the federal budget after the market plunged.
The 2025 assumption will be lower than last year’s $80 a barrel, Mudher Saleh, a financial adviser to the prime minister, said Tuesday by phone, without being more specific. The decision was delayed earlier this year by negotiations over payments to oil companies.