Iraq’s new oil minister Thamer Ghadhban said on Wednesday the current price of crude was “fair” and that the country, OPEC’s second-largest producer, would act responsibly in providing ample supplies to the market. Ghadhban also said the oil ministry aimed to increase output capacity and support foreign energy companies by helping them overcome any bureaucratic hurdles. OPEC agreed in June to pump more oil after pressure from U.S. President Donald Trump to curb rising prices and to make up for an expected shortfall in Iranian exports. Oil LCOc1 hit a four-year high of $86.74 a barrel on Oct. 3 but has since eased to $76 as concern of tight supplies faded. Iraq, which relies on vast oil […]