OIL PRICES...KEEP RISING..?

Iraq expects oil price to keep rising -minister
Sun Jun 14, 2009 5:31pm IST

BAGHDAD (Reuters) - While an oil price of $70 per barrel is encouraging producers to bring more crude to market, it is not enough to balance supply with demand in the event the world economy recovers quickly, Iraq's oil minister said Sunday.

"If there is a quick recovery of the world economy, oil prices of $70 will not be enough to balance produced crude and demand and prices will continue rising," Hussain al-Shahristani told Reuters.

"Yes I expect prices will keep increasing.”

http://in.reuters.com/article/businessNews/idINIndia-40316220090614?rpc=401&

(Excerpted from whole article)
The American Contractor has added new important Iraq dates above. The 29-30 June 2009 is when the Ministry of Oil Hussein al-Shahristani, will reveal for the first time in front of the whole world the opening of the bids from national and international oil companies. These bids will be for the cost of the barrel and the quantity of production. The bids will be for six of Iraq's biggest oil fields and two gas fields.

http://americancontractor.com/mailman/listinfo/iraqinfo_americancontractor.com