The Hormuz Strait…What would happen if the price of oil reached $200 per barrel? The Iraqi budget would blow out in a huge excess, not simply balance. Would the IQD currency adjustment be triggered by this event? Oil is essential to Iraq’s economy, and if it is priced at $70 a barrel, their budget will be balanced. Iraq’s foreign reserves would quadruple in a matter of months if oil prices rose to $150 to $200 per barrel. As we already know, the US has a $100 billion foreign reserve.This is hardly an idealistic judgment. Global economists can plainly see this evaluation, and you can see it now.
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