.
.
.
.
Oil

Iraq decides to freeze oil prepayments deal as oil prices rising

Published: Updated:

Iraq has decided to freeze its first crude oil prepayment deal, which had aimed to boost its finances, because oil prices are rising, the country’s oil minister told BBC Arabic on Sunday.

For the latest headlines, follow our Google News channel online or via the app.

“We had concerns that oil prices would not rise above $40 when we announced this deal for the first time in the history of Iraq,” Ihsan Abdul Jabbar told the channel.

Brent crude has been trading above $60 a barrel recently.

Read more:

Iraq plans to build 10 gigawatts of solar projects over 10 years

Turkey probes pro-Kurdish MP over ‘northern Iraq visit’

Rockets strike military base in Iraq housing US forces: Iraqi military