Iraq attributed the improvement of oil prices in world markets thanks to the efforts of the Organization of Petroleum Exporting Countries (OPEC) after the previous agreement to reduce production.
Brent prices are currently at $ 80- $ 81 per barrel.
Oil Minister Jabbar al-Allaibi said in a press statement that "the stability of the world oil market in large ranges and improvement in crude oil prices."
"Things are stable in terms of oil markets because of the efforts made before," he said, noting that "the ministry has been watching the markets strongly and continuously and found an improvement in the global oil market."
Al-Allaibi pointed out that "the price of a barrel of Brent oil fluctuates up and down," pointing out that "the price of a barrel of Iraqi oil ranges between 70 to 70.5 dollars."
Oil prices rose on Friday as investors sought to gauge the potential impact on supplies from the sanctions the United States is about to impose on Iranian crude exports.
US sanctions on Iran begin with the third largest member of the Organization of the Petroleum Exporting Countries (OPEC) after Iraq on November 4, and Washington is demanding that Iranian oil buyers to reduce imports to zero to force Tehran to negotiate a new nuclear agreement.
OPEC and its allies from independent producers, including Russia, the world's largest producer, met earlier this week but did not see the need to add new production under the current good market supply.
US President Donald Trump stressed on September 20 that OPEC should cut oil prices immediately. "
Trump said in his account on the social networking site Twitter:" We protect the Middle East countries, they will not enjoy long security without us and they raise prices More and more oil, remember you should cut oil prices now. "
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