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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.
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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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