Erbil-Baghdad Oil Agreement to Impact Iraq’s 2020 Budget Bill: Minister
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Erbil-Baghdad Oil Agreement to Impact Iraq’s 2020 Budget Bill: Minister

ERBIL — Any future agreement between the Kurdistan Regional Government (KRG) and the federal government of Iraq on oil revenues and exports would influence the budget bill for 2020, said Iraqi oil minister.

Speaking to reporters on Saturday, Minister Thamir Ghadhban said Erbil and Baghdad continue negotiating on the submission of 250,000 barrels of oil daily by the former to Baghdad.

He said they expect the talks to reach a conclusion in the near future, which would most likely have an impact on the 2020’s budget bill.

According to the minister, Iraq has set the price for a barrel of crude at $50 in the budget bill for the next year.