Iraq Seeks Stable Oil Prices as It Rebuilds, Premier Says
- Nation is trying to rebuild following years of war, sanctions
- Government seeks to increase oil output capacity, investment
Iraqi oil technicians turn a valve at a gas installation in Basra, Iraq.
Photographer: Haidar Mohammed Ali/AFP/Getty Images
This article is for subscribers only.
Iraq, OPEC’s second-largest producer, seeks to keep oil prices near current levels to ensure market stability as the country rebuilds, according to new Prime Minister Mohammed Shia Al-Sudani.
The nation is “keen that oil prices don’t exceed $100 a barrel, nor drop in a way that affects supply and demand,” he told reporters in Baghdad. Global benchmark Brent crude settled at $95.99 a barrel on Friday.