Iraq expects oil prices to rise to $65 in coming months

Representational photo.
Representational file photo.

( Baghdad – On Thursday, Iraqi Oil Ministry expected the oil prices to rise to $65 during the second half of the year.

Deputy Oil Minister, Fayyad al-Ni’ma said in a press statement during the meeting of OPEC in Vienna followed by, “Oil prices may rise during the second half of the year to reach 55-65 US dollars per barrel.”

Noteworthy, in 26 May 2016, Brent crude oil index rose by 1.2% to reach $50.34 per barrel for the first time during the current year, while the analysts attributed this rise to the increasing demand for crude oil from the top oil consumers in the world.

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