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08 June 2023

Iraq says non-Opec producers need $70 oil price

By Reuters
Iraqi Oil Minister Hussain al-Shahristani said on Saturday non-Opec producers need oil prices at $70 in order to be able to continue production.

"The price that other producers outside Opec need to continue production is around $70," Shahristani told reporters in Amman.

"Below $70 would mean that many of the oil fields outside Opec would stop production because they cannot produce at a loss."