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Money News

Iraq oil minister sees oil at $45 in first quarter of 2021 - state paper

Ihsan Abdul Jabbar speaks during an interview with Reuters in Basra, Iraq May 18, 2019. REUTERS/Essam al-Sudani/File Photo

BAGHDAD (Reuters) - Iraq’s Oil Minister Ihsan Abdul Jabbar said oil prices are expected to reach around $45 in the first quarter of 2021, the al-Sabah state newspaper reported on Sunday.

Iraq has also based a draft 2021 federal budget on a projected oil price of $42 per barrel, the paper cited the oil minister as saying.

Reporting by Ahmed Rasheed;Editing by Elaine Hardcastle

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