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.
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.”