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[size=30]Bloomberg: Iraq expects oil prices... and is looking for an alternative to the giant American company
[ltr]2021.06.13 - 10:13[/ltr]
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[ltr]2021.06.13 - 10:13[/ltr]
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Oil Minister Ihsan Abdul-Jabbar expected crude prices during the second half of this year based on current indicators.
And the agency “Bloomberg” quoted Abdul-Jabbar as saying that “oil prices are expected to range between 68 and 75 dollars per barrel in the second half, due to the commitment to reduce OPEC + production.”
The Organization of Petroleum Exporting Countries (OPEC) expected earlier this week that the recovery in global oil demand would gather strength in the second half of the year as the group prepares to consider reviving more stalled production.
The minister added, "Oil consumption will jump by about 5 million barrels per day - or nearly 5% - in the second half of 2021, compared to the first with the world's exit from the epidemic recession.
OPEC and its partners have restored nearly 40% of the production shut down due to the coronavirus crisis a year ago, and they will meet on July 1 to make new decisions.
Iraq announced last May that it was considering buying Exxon Mobil Corp.'s stake in one of the world's largest fields.
In response to a question about the status of the giant American company, the minister said, "It has only withdrawn from West Qurna-1 field yet, as the country is still studying the alternative.
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And the agency “Bloomberg” quoted Abdul-Jabbar as saying that “oil prices are expected to range between 68 and 75 dollars per barrel in the second half, due to the commitment to reduce OPEC + production.”
The Organization of Petroleum Exporting Countries (OPEC) expected earlier this week that the recovery in global oil demand would gather strength in the second half of the year as the group prepares to consider reviving more stalled production.
The minister added, "Oil consumption will jump by about 5 million barrels per day - or nearly 5% - in the second half of 2021, compared to the first with the world's exit from the epidemic recession.
OPEC and its partners have restored nearly 40% of the production shut down due to the coronavirus crisis a year ago, and they will meet on July 1 to make new decisions.
Iraq announced last May that it was considering buying Exxon Mobil Corp.'s stake in one of the world's largest fields.
In response to a question about the status of the giant American company, the minister said, "It has only withdrawn from West Qurna-1 field yet, as the country is still studying the alternative.
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