Iraq oil minister sees oil at $60 a barrel in second quarter

Iraqi Oil Minister Ihsan Abdul Jabbar expects oil prices to reach around $60 in the second quarter of 2021, he said in an interview with Iraq’s Sharqiya TV on Friday. The minister added that in past meetings he had asked OPEC members to allow Iraq to postpone compensating for earlier overproduction and this had helped to “bring back hope to Iraq’s economy”. “Iraq will sta

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Iraq secures $2bn from Chinese firm in prepaid oil deal

Iraq has secured a $2bn boost from a state-owned Chinese oil company paying upfront, as it continues to reel from the Coronavirus-triggered collapse in energy prices. SOMO, which oversees Iraq’s petroleum exports, picked a Chinese firm after receiving bids from several traders, the official Iraqi News Agency reported, citing an interview with the head of SOMO, Alaa Al-Yasiri

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