Iran Minister Expects Oil Price `Well Beyond’ $100, IRNA Says

Jan. 9 (Bloomberg) — Iranian Oil Minister Gholamhossein Nozari said he expects oil prices to go “well beyond” $100 a barrel, the state-run news service IRNA reported.

The oil market is well supplied, Nozari said in Tehran today, blaming fluctuating prices on the depreciation of the U.S. dollar, speculators and “climatic conditions,” IRNA reported.


Iran is the second-largest producer of the 13-member Organization of Petroleum Exporting Countries, after Saudi Arabia. The group will meet on Feb. 1 to discuss production targets, at its headquarters in Vienna.