Minister of Oil: International efforts to keep a barrel price around $70

INA – BAGHDAD
 
Oil Minister Ihsan Abdul-Jabbar confirmed on Wednesday, that Iraq's exports will continue to increase by an average of 400.000 barrels per month and indicated that there are international efforts to keep the price of a barrel of oil at around $70.
 
"The ministry hopes to maintain the oil price at more than $65 per barrel, and there is a recovery in the global economy, challenges and fears," said Abdul-Jabbar in a statement to the Iraqi News Agency (INA).
 
Abdul-Jabbar noted that "there is an ongoing increase in the volume of Iraq's exports of 400 thousand barrels per month,”
 
He pointed out that "OPEC will hold a meeting at a later time to discuss the situation of the global oil markets," noting that "it is too early to talk about the results of the meeting with OPEC, and we expect that the increase will remain at the size of 400.000 barrels, in terms of two conditions: the price levels remain at their current level and not to make a change in global markets,”
 
"Iraq aims to export 3 million and 400 thousand barrels per day for this month from northern and southern outlets, based on reducing crude oil consumption in electric power production plants," Abdul-Jabbar stressed adding, that "OPEC and its allies are working to keep the price of a barrel of oil at a rate close to $70 a barrel,”
 
Minister of Oil affirmed that "Iraq is determined to make all gas projects in Mansouriya and Basra Gas Company a success, and in agreement with Total and Baker Hughes in Nasiriyah and in Halfaya as well,”

Abdul-Jabbar expressed his hope for “an agreement with one of the international companies to invest the field,” pointing out that "a number of international companies view the security situation as one of their concerns,"
 
He stated that "there are assurances from the Iraqi side for these companies, and discussions are continuing with them to invest the field,"