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Iraq Sees Steady Oil Prices and Considers Buying Exxon Stake

  • Crude will probably stay at $65 in coming months: oil minister
  • OPEC will continue keeping oil prices ‘within normal averages’
The sun sets over an oil refinery in the southern Iraqi town of Nasiriyah, Iraq. 

The sun sets over an oil refinery in the southern Iraqi town of Nasiriyah, Iraq. 

Photographer: Assad Al-Niyazi/AFP/Getty Images

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Iraq, OPEC’s second-biggest oil producer, said crude prices would probably remain around $65 a barrel in the coming months and announced it’s considering buying Exxon Mobil Corp.’s stake in one of the world’s biggest fields.

The Organization of Petroleum Exporting Countries and its allies -- a 23-nation grouping known as OPEC+ -- will continue trying to keep crude prices “within normal averages,” Oil Minister Ihsan Abdul Jabbar told reporters in Baghdad. “There is no concern about a drop in prices.”