Iraq has ambitious targets for oil prices, growth in the gas sector

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Iraq has ambitious targets for oil prices, growth in the gas sector

Prime Minister of Iraq, Mohammed Shia Al-Sudani, seeks to boost the nation’s influence in the global energy market.

Al-Sudani has recently announced his intention to collaborate with various American corporations, emphasizing the need to secure additional funding for Iraq’s growing gas industry. His aspirations for Iraq extend beyond domestic development, and he aims to establish his country as a leading player in the global gas market.

During an interview with Bloomberg in New York, Al-Sudani emphasized his administration’s unwavering commitment to investing in the gas industry. He stated that his government is committed to becoming a significant and influential player in the gas market.

It is crucial to acknowledge that United States companies contribute significant funds and cutting-edge technological know-how that is vital for the growth and improvement of Iraq’s gas infrastructure. This initiative aligns with Iraq’s broader plan to diversify its energy sources, reduce its reliance on oil, and capitalize on the growing demand for eco-friendly energy sources worldwide.

In an interview with Bloomberg, Al-Sudani shared his predictions for the price of oil. He expects a robust oil market and has set a target price range of $85 to $95 per barrel, at a minimum.