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Iraqi oil minister says expects oil market to be in balance in first quarter

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Iraqi oil minister says expects oil market to be in balance in first quarter

Iraqi oil minister says expects oil market to be in balance in first quarter
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BAGHDAD (Reuters) – Iraqi Oil Minister Jabar al-Luaibi said on Monday he was optimistic there would be a balance between supply and demand by the first quarter of 2018, leading to a boost in oil prices.

The world’s inventory of oil had decreased to an acceptable level and there were positive signs that oil market prices would improve significantly in 2018, Luaibi told journalists at a signing ceremony.

(Reporting by Ahmed Rasheed; Writing by Ahmed Aboulenein)

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