IMF: Iraq among top OPEC states needing high oil price

Shafaq News/ Iraq will require an average oil price of more than $92 per barrel to balance its national budget in 2025, the International Monetary Fund (IMF) said on Wednesday.

According to an IMF table outlining the fiscal breakeven oil prices for OPEC member states in 2025, Iraq’s breakeven price was estimated at $92.43 per barrel.

Iran topped the list, requiring $124.12 per barrel to balance its budget, followed by Algeria at $118.95 and Kazakhstan at $115.93. Saudi Arabia was estimated to need $90.94, while Kuwait would require $81.84. Azerbaijan and Libya need $73.14 and $70.05, respectively. The UAE had the lowest threshold among the group, at $49.95 per barrel.

Global oil prices have declined in recent days, weighed down by market concerns over US President Donald Trump’s newly imposed tariffs on several of Washington’s trade partners. Meanwhile, a partial return of oil production by OPEC has added to fears of oversupply.