October 31, 2018 / 10:11 AM / 10 months ago

Iraq's new oil minister says current crude price is 'fair'

FILE PHOTO: Iraqi Oil Minister Thamer Ghadhban speaks to the media during a handover ceremony at the ministry's headquarters in Baghdad, Iraq October 31, 2018. REUTERS/Khalid Al-Mousily/File Photo

BAGHDAD (Reuters) - Iraq’s new oil minister said on Wednesday that the current price of crude is “fair”, adding that the OPEC member country will be responsible in providing ample oil supplies to the market.

“We will do our best to stabilize the market,” Thamer Ghadhban told reporters after officially taking over the oil portfolio from Jabar al-Luaibi. “The oil price at the moment is at a fair price.”

“It’s not too high, it’s not 100 dollars per barrel and it’s not 30 dollars,” Ghadhban said.

Reporting by John Davison and Ahmed Rasheed; Writing by Raya Jalabi; Editing by Dale Hudson

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