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.