Published on Iranian.com (//legacy.iranian.com/main)
Iran official says $100 oil price "appropriate"
Guardian
05-Sep-2008 (13 comments)
TEHRAN, Sept 5 (Reuters) - Iran's OPEC governor said an oil price of $100 per barrel was "appropriate" in current conditions, the Oil Ministry's news agency Shana reported on Friday. The oil minister of the world's fourth-largest crude producer had said earlier in the week that $100 a barrel was the lowest appropriate price. Crude has tumbled from a record $147 in July and was trading on Friday at below $107. OPEC governor Mohammad Ali Khatibi, speaking four days before a ministerial OPEC meeting in Vienna, also reiterated Iran's view that OPEC members should cut output to their agreed targets so that oversupply on the market was reduced. "The $100 per barrel price, in the current conditions, is appropriate," Shana quoted him as saying. Khatibi added that the price "should change based on conditions and expenses that are created in the future." Oil Minister Gholamhossein Nozari on Tuesday had said OPEC must discuss crude oversupply when it meets and again indicated that OPEC's second largest producer wanted the group to prevent oil from hitting $100 a barrel, according to the IRNA news agency. Nozari had earlier said $100 was the lowest appropriate price. Iran is traditionally hawkish on price. Another price hawk, Venezuela, said record prices near $150 were "irrational" and that they would probably settle around $100. Khatibi earlier this week told Reuters OPEC may need to cut oil supplies by as much as 1.5 million barre... >>>
Shining Head

Stupid Statement !

by Shining Head on Fri Sep 05, 2008 05:22 AM PDT

I don't know what kind of idiot makes a statement like this? For an oil producer the higher the price, the more the revenue. What should he be statting that "$100 per barrel is appropirate" while the price was as high as $140 not too long ago?

This statement only makes sense, if the oil price were expected to tumble far below $100.

The interesting part is that   "W" and his doodool Chini are enjoying their lives no matter what the oil prices; because the gas price is not going to come down at the pump, no matter what the oil producers make!


Balatarin
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Source URL (retrieved on 12/08/2012 - 02:32): //legacy.iranian.com/main/news/2008/09/05/iran-official-says-100-oil-price-appropriate

 
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