Baghdad Oil Minister Ihsan Abdul-Jabbar Ismail expected that the price of a barrel of crude oil would not be less than $70 until December 2022.
The minister told Reuters, “Iraq supports the extension of the OPEC + agreement to reduce production until December 2022 and start adding increases starting from next August 2021 according to the requirements and needs of the oil market.”
He added, “The government is committed to its partnership with LUKOIL and supports it to improve the investment environment,” noting that “our relationship with BP is distinguished despite the challenges of the investment environment, and we have paid all the company’s dues and debts.”
Source: National Iraqi News Agency