Oil barrel price will not exceed $75, Minister of Oil says
In a press statement earlier today, Minister Abdul-Jabbar said, "We expect that ExxonMobil will remain in a certain part of Iraq in some investments. It only left the west al-Qurna 1. We are considering alternatives."
Earlier in May, Goldman Sachs said it expects oil prices to climb to $80 per barrel in the fourth quarter of this year, arguing that the market has underestimated a rebound in demand even with a possible resumption in Iranian supply.