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Tuesday, December 11, 2018

Oil Prices Won't Reach 'Desired Level' before 2018, Iraq Says

Maritime Activity Reports, Inc.

January 31, 2017

© superkiss / Adobe Stock

© superkiss / Adobe Stock

Oil prices will not reach "levels desired" by Iraq before the end of 2018 or 2019, Iraqi Prime Minister Haider al-Abadi said on Tuesday in Baghdad.

"Demand has increased and this has helped raise the prices but it won't return to the level of 2013" when crude exceeded $100 a barrel, he told a news conference.
"Oil will not reach a desired level before 2018 or 2019," he added, without indicating Iraq's desired price.
Iraq is OPEC's second-largest crude producer, after Saudi Arabia.

(Reporting Saif Hameed; Editing by Ruth Pitchford)
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