Iraqi Oil Minister: Exports will reach an average of 2.9 million barrels by February

The Iraqi Oil Minister said today, Wednesday, that exports will reach an average of 2.9 million barrels in February, and expected the price of oil to range between 58-63 dollars a barrel this year.

The Iraqi oil minister added that he expected OPEC + production policy to remain unchanged during the next meeting.

 

The Iraqi Oil Minister stated that the OPEC + agreement to reduce production contributed to reducing crude stocks.

 

On the other hand, a document from the Iraqi Oil Marketing Company (SOMO) showed today, Wednesday, that Iraq raised the official selling price of Basrah Light crude in March shipments destined for Asia.

SOMO set the official selling price of Basra Light crude to Asia at a premium of $ 1.15 a barrel to benchmark Oman and Dubai crude, compared to a premium of $ 1.10 a barrel in February.