Iraq Says Oil Prices Above $80 is 'a Positive Indicator'

A policeman is seen at West Qurna-1 oil field, which is operated by ExxonMobil, in Basra, Iraq January 9, 2020. REUTERS/Essam al-Sudani/File Photo
A policeman is seen at West Qurna-1 oil field, which is operated by ExxonMobil, in Basra, Iraq January 9, 2020. REUTERS/Essam al-Sudani/File Photo
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Iraq Says Oil Prices Above $80 is 'a Positive Indicator'

A policeman is seen at West Qurna-1 oil field, which is operated by ExxonMobil, in Basra, Iraq January 9, 2020. REUTERS/Essam al-Sudani/File Photo
A policeman is seen at West Qurna-1 oil field, which is operated by ExxonMobil, in Basra, Iraq January 9, 2020. REUTERS/Essam al-Sudani/File Photo

Iraq's oil ministry spokesman said that an oil price above $80 is "a positive indicator" but needs long-term stability.

The oil ministry cited Asim Jihad on its Telegram channel as also saying that Iraq aims to achieve the highest financial revenues by committing to the OPEC+ agreement.

He added that the challenges of the global oil market are still present due to not fully containing the coronavirus and its variants.

Earlier this month, OPEC+ stuck to its agreement of increasing production by 400,000 bpd a month as it unwinds production cuts.

In the meantime, Minister of Oil Ihsan Abdul-Jabbar “emphasized the importance of working on increasing transparency and sharing information on oil activity between the government and the Kurdistan Regional Government regarding oil activity and the revenues generated from it."

During his meeting with Kurdistan’s Minister of Natural Resources Kamal Atroshi, Abdul-Jabbar emphasized the importance of “working together for an optimal investment of natural and hydrocarbon resources throughout Iraq to support and promote the national economy,” according to a statement issued by the Iraqi oil ministry.

Abdul-Jabbar also said that both sides should work together to invest in clean energy and reduce emissions.

For his part, Atroshi said that Kurdistan and the ministry are willing to cooperate with the federal government to boost cooperation for the sake of developing the oil industry.

Iraq’s Ministry of Oil announced the conclusion of maintenance at the Khawr Al Amaya Oil Terminal (KAAOT), at a time when Basrah Oil Company inaugurated a new ship specialized in dealing with oil leakages.



Trump Says he 'Couldn't Care Less' if Car Makers Hike Prices Due to Tariffs

President Donald Trump waves to supporters from his limousine as he arrives at Trump International Golf Club, Saturday, March 29, 2025, in West Palm Beach, Fla. (AP Photo/Manuel Balce Ceneta)
President Donald Trump waves to supporters from his limousine as he arrives at Trump International Golf Club, Saturday, March 29, 2025, in West Palm Beach, Fla. (AP Photo/Manuel Balce Ceneta)
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Trump Says he 'Couldn't Care Less' if Car Makers Hike Prices Due to Tariffs

President Donald Trump waves to supporters from his limousine as he arrives at Trump International Golf Club, Saturday, March 29, 2025, in West Palm Beach, Fla. (AP Photo/Manuel Balce Ceneta)
President Donald Trump waves to supporters from his limousine as he arrives at Trump International Golf Club, Saturday, March 29, 2025, in West Palm Beach, Fla. (AP Photo/Manuel Balce Ceneta)

US President Donald Trump said on Saturday he did not warn car industry executives against raising prices as tariffs on foreign-made autos come into force, telling NBC News he "couldn't care less" if they do.

The White House has been preparing to impose new tariffs on a range of consumer goods on April 2, a move that has drawn criticism from international leaders and concerns about potential price increases for consumers.

In the NBC News interview, Trump said his permanent tariffs on foreign-made automobiles would be a boost to US-domiciled factories and was confident the move would lead to increased sales of American-made cars. "I hope they raise their prices, because if they do, people are gonna buy American-made cars," Reuters quoted Trump as saying.

Trump maintained that he would only consider negotiating on the tariffs "if people are willing to give us something of great value."

The tariffs are part of Trump's efforts to promote American manufacturing and reduce the country's trade deficit.

Trump's trade policies have been a key focus of his presidency, with ongoing tensions with major trading partners.