Iraq Sees Steady Oil Prices and Considers Buying Exxon Stake

SourceYahoo News
SectorOil & Gas
CountryGulf

Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.Khalid Al-Ansary and Kadhim AjrashMay 3, 2021, 4:03 AM·2 min readOops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.

(Bloomberg) — 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.”

The comments suggest OPEC+ remains confident about the outlook for energy demand, despite the surge in coronavirus cases in India, the third-largest oil importer. The group of major exporters began unprecedented supply cuts last year to bolster prices as the pandemic spread.

It plans to ease the restrictions between May...read more...