Oil Minister: Oil prices will not exceed $75
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Oil Minister: Oil prices will not exceed $75
by claud39 Sun Jun 13, 2021 3:09 pm
Oil Minister: Oil prices will not exceed $75
06/13/2021
06/13/2021
Economy News _ Baghdad
Oil Minister Ihsan Abdul-Jabbar expected that oil prices would not exceed $75 a barrel and not be less than $68 during the second half of the year, with OPEC and its allies adhering to the production ceiling.
He added in a statement to reporters, "There are new projects in which there is a common interest between the two sides, and we expect that ExxonMobil will remain in a certain part of Iraq in some investments, and it came out only from West Qurna 1 and it actually did not come out and in light of the study of the alternative."
It is noteworthy that US investment bank Goldman Sachs expects Brent crude prices to reach $80 a barrel this summer, and is betting that the recent rally in the oil market will continue as vaccinations boost global economic activity and demand for the commodity.
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