‘Oil at $100 not sustainable’

Web Desk BOL News

04th Oct, 2021. 01:42 pm

Overall, the Petroleum Division would spend Rs3.249 billion on 13 ongoing and new projects during the year 2021/22. Photo: File

DUBAI: Iraq’s Oil Minister Ihsan Abdul Jabbar has said that oil prices reaching $100/barrel will not be sustainable and that Opec wants stable markets, Arab Newsreported.

He said in a TV interview with Skynews Arabia that he is working on a programme to raise the country’s oil production capacity to 8 million barrels, calling it a balanced capacity.

The minister also said Iraq aims for its gas production to reach 4 billion cubic feet before 2025.

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