NO. 39



Iraq Targets $25/B Minimum Price for Crude

Iraq has made it clear that it is setting its oil price sights a good dealhigher than OPEC's current target of $18/B as the minimum reference price forthe OPEC crude basket. This was spelled out by Dr. Sa'dun Hamadi, Iraq's DeputyPrime Minister, who told a press conference in Kuwait on 26 June that, in Iraq'sview taking into account the effects of inflation and the fall in the value ofthe US dollar, a "fair price" for...