‘Oil at $100 not sustainable’

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.