Iraq says 80 dollars a 'reasonable' price for oilIraqi Oil Minister Hussein al-Shahristani said on Friday that 80 dollars a barrel is a "reasonable" price for oil and that his country would support any OPEC decision to cut output.
"A reasonable price for oil is 80 dollars a barrel," said Shahristani on arrival in Cairo to attend a consultative meeting by the OPEC cartel to study slumping crude prices.
"We have to make sure that produced oil is used for consumption and not for storing.
"Iraq would support a decision by OPEC to cut output either here or in Algeria," the Iraqi minister added.
Organisation of Petroleum Exporting Countries ministers are to meet in Cairo on Saturday amid pressure for production cuts to stem heavy oil price losses, which continued to mount on Friday.
Most cartel members appeared to rule out an immediate reduction, preferring instead to wait until the next scheduled meeting in Oran, Algeria on December 17.
So, you see, Iraq, the nation where we, apparently, have been imperialist aggressors, is one of the few members of OPEC who are pushing for an immediate cut in our oil supply.
I guess exploiting the resources of another nation doesn't work quite the way it used to in the old days.