Iraq Oil Minister Says Oil Prices are 'Reasonable'

Townhall Staff

Jun 07, 2011 4:30 PM Jun 07, 2011

Opinion

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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."

Read more: http://www.politico.com/news/stories/0611/56430.html#ixzz1Ockv8V5T