Iraq oil minister: OPEC monitoring oil prices, seeking market balance

Iraq Oil Minister Ihsan Abdul Jabbar said OPEC and OPEC+ are monitoring the oil price situation, wanting a balance in the markets.

“We don’t want a sharp increase in prices,” he said in a televised interview on state TV.

“We entered a challenging period. Global factors led to lower oil prices, most importantly lower growth and higher inflation rates,” Abdul Jabbar said.
Source: Reuters (Reporting by Nayera Abdallah and Ahmad Elhamy; Editing by Mark Porter)