Iraq needs crude oil to trade at $80 a barrel to be able to plug its budget holes, according to oil minister Ihsan Abdul Jabbar Ismail. In an interview with Shafaq news agency, the top official said, “Iraq will export in 2021 about one billion and 100 million barrels of crude oil according to market data. The budget needs 140 trillion dinars ($96 billion). The price of $ 80 a barrel is the right price to make Iraq can pay the budget dues.” However, there is no chance of oil rising that high this year, Abdul Jabbar Ismail also said. Last December, the minister said Baghdad had budgeted for an average oil price of $42 a barrel for 2021, compared with $56 for 2019. The official told Shafaq news agency that he expected Brent to hit $60 a barrel this quarter, however, rising to $62-63 by the third quarter […]