Iraq Says Oil Price Above $ 80 “A Positive Indicator”

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© Reuters. FILE PHOTO: A gas pump at a gas station in Seoul on June 27, 2011. REUTERS / Jo Yong-Hak / File Photo

(Reuters) – The Iraqi Oil Ministry spokesman said that an oil price above $ 80 was “a positive indicator” but needed long-term stability.

The Oil Ministry quoted Asim Jihad on its Telegram channel as also claiming that Iraq aims to achieve the highest financial income by committing to the OPEC + deal.

He added that the challenges of the global oil market are always present due to the fact that it does not fully contain the coronavirus and its variants.

Earlier this month, OPEC + stuck to its agreement to increase production by 400,000 bpd per month as it rolls back production cuts.

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