Iraq denies fuel price hike

The Iraqi Ministry of Oil denied the rumors about raising the prices of subsidized fuel for citizens, confirming that the prices of petroleum products allocated to citizens remain stable and are sold at the approved subsidized rates. It emphasized that any changes related to product prices are limited to government agencies and other sectors. The ministry clarified that the mechanisms for distributing subsidized petroleum products involve technically submitting requests and endorsements from the relevant authorities to ensure that support reaches the eligible groups. It also warned against inaccurate information that could cause confusion or concern among citizens. Additionally, Iraq is seeking to increase its share of oil production within the OPEC+ alliance, based on an unofficial request to raise its production ceiling from 6 million barrels per day, according to undisclosed sources, though no official confirmation has been made by the ministry.

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