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Iraq oil minister sees oil at $45 in first quarter of 2021 - state paper

South Oil Company chief Ihsan Abdul Jabbar speaks during an interview with Reuters in Basra
South Oil Company chief Ihsan Abdul Jabbar speaks during an interview with Reuters in Basra

BAGHDAD (Reuters) - Iraq’s Oil Minister Ihsan Abdul Jabbar said oil prices are expected to reach around $45 in the first quarter of 2021, the al-Sabah state newspaper reported on Sunday.

Iraq has also based a draft 2021 federal budget on a projected oil price of $42 per barrel, the paper cited the oil minister as saying.

(Reporting by Ahmed Rasheed;Editing by Elaine Hardcastle)