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Oil Minister: Iraq seeks to increase crude production
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Oil Minister Thamir al-Ghadhban said on Wednesday his ministry was seeking to increase crude production capacity in the country and would support foreign oil companies to facilitate its work.
Ghadhban told a news conference attended by "Economy News" that the ministry will seek to develop oil refineries and increase their production capacity.
He added that the current price of crude is "fair", indicating that his OPEC member will have a great deal of responsibility in supplying the market with abundant supplies of oil.
He pointed out that "his country will do its best to stabilize the market," explaining that "the price of crude is not very high, as it does not exceed $ 100 a barrel and does not reach $ 30 a barrel."
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