World oil prices are at reasonable levels and OPEC does not intend to reconsider its production targets at its meeting in June, Iraq’s Deputy Prime Minister for energy, Hussain al-Shahristani, said on Sunday.
Reuters reports that Shahristani, speaking at the launch of a new power plant project in Iraq, said he had no concern about the recent slump in world oil prices.
“No, not at all. These issues are expected, ups and downs in prices. The oil prices are still at acceptable and reasonable levels in our view. There is no intention really, now, to reconsider (OPEC) target levels or to take any extraordinary measures” when OPEC meets in June, he said.