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Page added on July 31, 2012
Iran’s Oil Minister Sees $100 as Fair Price for Crude
Iran views $100 as a “fair” price for crude oil, the state-run Mehr news agency reported, citing the OPEC-member nation’s oil minister.
Rostam Qasemi said the Organization of Petroleum Exporting Countries no longer needs to hold an emergency meeting to address declining prices, as crude sells now for more than $100 a barrel, according to the report today. Qasemi last month urged the producer group to call such a meeting. Brent crude is trading today at more than $105 a barrel on the London-based ICE Futures Europe exchange.
2 Comments on "Iran’s Oil Minister Sees $100 as Fair Price for Crude"
BillT on Tue, 31st Jul 2012 2:41 pm
No news here. They need $100 oil and they will get it. They still sell to most of their old customers, but not in dollars.
oilforbreakfast on Tue, 31st Jul 2012 8:59 pm
$100 a barrel ($2 a gallon) for this remarkable liquid is remarkably cheap. Much cheaper than Coca Cola or bottled water.