register now for free unlimited access to reuterscom register iraq’s oil minister ihsan abdul jabbar speaks during the 29th annual middle east petroleum  gas conference in manama bahrain may 16 2022 reutershamad i mohammed sept 26 reuters  iraq oil minister ihsan abdul jabbar on monday said opec and opec are monitoring the oil price situation wanting a balance in the markets we dont want a sharp increase in prices he said in a televised interview on state tv we entered a challenging period global factors led to lower oil prices most importantly lower growth and higher inflation rates abdul jabbar said reporting by nayera abdallah and ahmad elhamy editing by mark porter