November 2, 2017 / 1:19 PM / in 18 days

Iraq supports keeping curbs on global oil supply, minister says

BAGHDAD (Reuters) - Iraq supports keeping curbs on global oil supply to bolster prices, Oil Minister Jabar al-Luaibi told reporters on Thursday in Baghdad, adding $60 per barrel would be an acceptable target price for his country.

Iraq is the second-largest producer of the Organization of the Petroleum Exporting Countries after Saudi Arabia. OPEC is expected to extend curbs on oil output when it meets in Vienna at the end of month.

The oil ministry in Baghdad earlier on Thursday said the average selling price of Iraqi crude was $52.60 a barrel in October.

Reporting by Ahmed Rasheed; Writing by Maher Chmaytelli; Editing by Mark Potter

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