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Iraq Oil Minister Confident Oil At 45 Dollars In First Quarter of 2021

Iraq's oil minister has expressed his confidence that the prices of oil will climb to $45 in early 2021.

Iraq's oil minister Ihsan Abdul Jabbar has expressed confidence that the price of oil will climb to $45  during the first quarter of next year.

According to him Iraq's exports in October stands at 2.6 million barrels a day and will likely continue at this level in compliance with an agreement set with OPEC+ in limiting oil production output. He is expecting prices of crude to remain at $41 - $42 a barrel before going up to $45 in the first quarter of 2021. This was based on an interview conducted by the state run Al-Sabah newspaper with Jabbar.

He reiterated that Iraq is fully compliant with OPEC+ with regards to its output quota. 

 

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