Oil to trade between $68-$75 in second half of 2021 amid rising demand, Iraq’s oil minister says

  • Date: 13-Jun-2021
  • Source: The National
  • Sector:Oil & Gas
  • Country:Gulf
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Oil to trade between $68-$75 in second half of 2021 amid rising demand, Iraq’s oil minister says

Oil is expected to trade in the range of $68 to $75 per barrel in the second half of this year, Iraq's oil minister Ihsan Abdul Jabbar said.

Crude prices will remain in this range if Opec and its allies continue to cut production to support the markets, Mr Jabbar told reporters in Baghdad on Saturday.

There were also “new projects in which there is a common interest" between the country and longstanding investor Exxon Mobil following reports last month that the government is planning to buy the US company's stake in the West Qurna 1 field, Mr Jabbar said.