BEIJING, Nov. 8 (Xinhuanet) -- The Iraqi government has allocated a sum of 1.2 billion US dollars to implement a number of oil projects in 2005.

    The money will be used to improve oil production and export facilities.

    Meanwhile, an Iraqi official said he expected oil prices to decrease to 45 dollars per barrel during the coming few days.

    Oil prices in the past four weeks witnessed a sharp big increase rising to 55 dollars per barrel, the highest for many years.

    (CRIENGLISH.com)