The Iraqi Oil Minister expects oil prices to stabilize at $75 in the second half of 2021

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Posted on: Saturday, June 12, 2021 – 8:54 PM | Last update: Saturday, June 12, 2021 – 8:54 PM

(dpa)

Iraqi Oil Minister Ihsan Abdul-Jabbar expected today, Saturday, that oil prices in global markets will stabilize at a ceiling of $75 per barrel during the second half of this year.

Abdul-Jabbar said in statements to reporters while attending the Baghdad Book Fair this evening that oil prices will not exceed the ceiling of 75 dollars and not less than 68 dollars during the second half of this year, according to the commitment of producers in the Organization of the Petroleum Exporting Countries / OPEC / and its allies.

The Iraqi oil minister added that the American ExxonMobil company decided to leave work in the West Qurna First field, but it will continue to work with some investments in Iraq.

Abdul-Jabbar explained that the Iraqi Oil Ministry is currently studying offering a fifth round of licensing rounds to invest in 5 new oil fields in the country, noting that studies and audits are currently underway with the regulatory authorities in the ministry before announcing their offering.







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