Iraq hopes only economic factors will influence oil prices

Iraq hopes that economic factors remain the only influence of oil prices, and it is keen to avoid a crisis in the global oil market, Oil Minister Hayan Abdel-Ghani said.

"We hope there is no more politicization of oil," Abdel-Ghani told Reuters, responding to a question on the impact of a Western price cap on Russian oil and possible cuts in oil production by Moscow in retaliation.