November 14, 2017 / 4:34 PM / 7 months ago

Oil prices not high enough to be spent on development: Iraqi PM

BAGHDAD (Reuters) - Oil prices are not high enough for Iraq to spend revenues on development, state television quoted Prime Minister Haider al-Abadi as saying in a news conference on Tuesday.

Iraq's Prime Minister Haider al-Abadi speaks with U.S. Secretary of State Rex Tillerson (not pictured) in Baghdad, Iraq October 23, 2017. REUTERS/Alex Brandon/Pool

“Oil prices are not at the required level to be used for sustainable development,” state TV quoted him as saying.

Reporting by Ahmed Aboulenein. Editing by Jane Merriman

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