Al-Sudani: Iraq is keen to keep the oil price under $100

12 November, 2022
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Al-Sudani: Iraq is keen to keep the oil price under $100

The new Iraqi Prime Minister, Muhammad Al-Sudani, affirmed that his country, which is the second largest producer in the oil-exporting countries (OPEC), is seeking to limit the increase in oil prices in order to ensure market stability.


Al-Sudani told reporters, during a conference in Baghdad, that his country "is keen that oil prices do not exceed $100 per barrel, and that prices do not fall in a way that affects supply and demand," according to "Bloomberg."


Al-Sudani pointed out that his country “needs to produce more oil, in order to generate more revenues for the reconstruction of Iraq,” noting that “Iraq’s production quota from OPEC + should be reviewed to take these factors into account,” noting that “that He will discuss with members of "OPEC" without providing further details."


According to the monthly statistics published by the Ministry of Oil and the National Oil Marketing Company (SOMO), during 2021, Iraq exported about 1.102 billion barrels of oil, up from 1.096 billion barrels in 2020.


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