Abstract

Global oil prices are affected by several factors, including the volume of the daily global production of oil, especially the production of the United States, the Russian Federation, and Saudi Arabia. It is also affected by technical developments, especially the hydraulic fracturing drilling method used in extracting oil and shale gas, as well as the policy of OPEC in determining the production volume of its members. Prices are affected by oil production from countries outside of OPEC, and by all global economic conditions, let alone crises, wars, climate, and natural disasters. Another reason that has emerged recently that contributed to the collapse of oil prices that the world has not witnessed is the Corona pandemic (Covid-19).The study aims to know the impact of the Corona pandemic (Covid-19) on the Iraqi economy, especially the oil sector. It also aims to detect and determine the size of the effects on the financial reality, especially the financial oil returns and the general budget of the Iraqi state, whether operational or investment, as well as studying the most critical strategies, solutions, and scenarios to confront these challenges. The study relies on some approaches, including the documentary approach in studying the evolution of the impact of the Corona pandemic on the oil sector, and the descriptive approach and the case study represented by studying the phenomenon of Corona and its impact on the Iraqi economy. Also, this study depends on the inductive approach that is adopted in collecting relevant information from departments and ministries on the subject of research, especially the Ministry of Finance and Planning, the Ministry of Oil and Sumo Oil Marketing Company

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The article was added to IASJ on 2022-03-28

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