Iraqi Oil Minister Expects Prices, Demand to Rise



Reuters

VIENNA, June 5 (Reuters) - Iraqi Oil Minister Adel Abdel Mahdi said he expects prices and demand to rise, while all options would be discussed as oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) meet on Friday in Vienna about output policy.

He also said he saw oil prices heading to $75 per barrel by the end of this year.

OPEC is set on Friday to stick by its policy of unconstrained oil output for another six months, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports.

(Reporting by Reem Shamseddine; Editing by Mark Potter)



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