Iraq expects oil prices to reach $80/bbl - state news agency

Crude prices have been on the rise over the past weeks, settling over $70/barrel on Friday

  
Image used for illustrative purpose. A worker climbs stairs at the Halfaya oilfield in Amara, southeast of Baghdad, January 21, 2016.

Image used for illustrative purpose. A worker climbs stairs at the Halfaya oilfield in Amara, southeast of Baghdad, January 21, 2016.

REUTERS/Essam Al-Sudani

DUBAI- Iraqi expects oil prices to reach $80 per barrel, the country's state news agency reported on Sunday, citing an oil ministry spokesman.

The spokesperson, Asim Jihad, did not give a timeframe for the increase he predicted.

Crude prices have been on the rise over the past weeks, settling over $70/barrel on Friday, amid expectations of limited growth in U.S. oil output this year.

(Reporting by Maher Chmaytelli, editing by Louise Heavens) ((maher.chmaytelli@thomsonreuters.com;))


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