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OPINION

Iraq Oil Minister Says Oil Prices are 'Reasonable'

Townhall Staff
Townhall Staff | Jun 07, 2011
The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Iraq Oil Minister Says Oil Prices are 'Reasonable'
Iraq is just fine with $115 a barrel oil, despite the desire of its U.S. ally for less pain at the pump.

"In my opinion the current level is not too high," Iraqi Oil Minister Abdul-Karim Elaibi said of the price of crude, Reuters reported Tuesday as OPEC ministers prepared to meet in Vienna to discuss a proposed increase in output. "Recent indications from the oil market as far as the stocks and supplies is good — there is good supply."

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