19 Jan 2015
No plans to call emergency OPEC Meeting – Iran Oil Minister
FXStreet (Mumbai) - The Iranian Oil Minister said today that there are no plans to call an emergency Organization of Petroleum Exporting Countries (OPEC) meet in order to discuss prices.
Bijan Zanganeh, called for increased cooperation between group members to balance the market and ensure a reasonable price for all group members. The minister said Iran’s budget could be based on USD 72/barrel, but expressed confidence that his country could withstand even lower prices. "Even if the oil price goes down to $25 a barrel, the oil industry will not be threatened," the Fars news agency quoted him as saying.
Bijan Zanganeh, called for increased cooperation between group members to balance the market and ensure a reasonable price for all group members. The minister said Iran’s budget could be based on USD 72/barrel, but expressed confidence that his country could withstand even lower prices. "Even if the oil price goes down to $25 a barrel, the oil industry will not be threatened," the Fars news agency quoted him as saying.