Iraq seeks to boost oil prices

February 10, 2010

Iraq’s oil strategy will rely on boosting prices, not only production, th Iraqi Oil Minister said on Wednesday.

“Any future increase in Iraq’s oil production should not negatively affect oil prices,” Minister Hussein al-Shahrestani said.

He said that Iraq will control its oil prices by controlling production.

“Iraq will talk to other oil producers, but will make its own decision to maximize revenues,” al-Shahrestani said.

He said that Iraq will not be committed to its maximum production capacity but to the maximum revenues the country can achieve.

Source: Aswat al-Iraq

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