OPEC+ opposed to oil prices exceeding 'acceptable' level: Iraqi minister
OPEC+ opposed to oil prices exceeding 'acceptable' level: Iraqi minister
Iraq's oil minister told reporters in Baghdad $75-85 is an 'acceptable' price range for a barrel of crude in the long term.
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Ihsan Abdul-Jabbar spoke to reporters in Baghdad about oil prices [HUSSEIN FALEH/AFP/Getty]
The and its allies, a group known as , is opposed to oil prices exceeding an "acceptable" level and is studying ways to balance the market, Iraqi Oil Minister said.
Speaking to reporters in Baghdad, he said $75 to $85 is an "acceptable" price range for a barrel of crude in the long term.
OPEC+ is "at the same time against further boosting global oil inventories, as they could lead to the collapse of oil markets," he said.
budget for 2022 should be based on an oil price of $55 to $60, he said, adding he expected exports to average 3.4 million barrels per day in October including from the autonomousÌýnorthern Kurdistan region.
(Reuters)
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