Arab Today, arab today iran hopes opec lowers output
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

Iran hopes OPEC lowers output

Arab Today, arab today

Arab Today, arab today Iran hopes OPEC lowers output

Tehran - AFP

Iran is unhappy with the current oil prices, its oil minister said Monday, hinting at a proposal for the OPEC to lower its output to compensate for a drop in crude prices. "Iran's suggestion has always been to reduce OPEC production ceiling," Rostam Qasemi told reporters at a petrochemical conference in Tehran. The Organisation of the Petroleum Exporting Countries last week boosted production to 30.21 million barrels a day in April from 29.93 million in March maintaining a flat forecast of global demand. The move led to lower crude prices in Asian trade on Monday. "Market is not in a very bad situation but (the oil price) does not correspond to our expectations," Qasemi said, adding that Iran sees "ideal oil prices" above 100 dollars per barrel. "Part of the fluctuations in oil prices is because of summer. We hope to find a solution at the next OPEC meeting," he added, referring to the OPEC meeting scheduled in Vienna on May 31. New York's main contract, light sweet crude for delivery in June shed 78 cents to $95.26 a barrel and Brent North Sea crude for June delivery was down 71 cents to $103.20 in Monday afternoon trade. According to secondary sources in OPEC, Iran has dropped to the fifth biggest producer in the cartel, producing 2.70 million barrels per day in April. Its production was at 3.63 million bpd in 2011, ranking it second after Saudi Arabia. Qasemi rejected those accounts, saying Iran's "current oil production has not decreased." He did not elaborate. In April Qasemi confirmed a decline in production and export in 2012 without giving any figures. Iran's oil industry has been slapped with international sanctions over its controversial nuclear programme. The European Union in 2012 stopped buying Iranian crude, forcing Tehran to seek for new customers.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iran hopes opec lowers output Arab Today, arab today iran hopes opec lowers output

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iran hopes opec lowers output Arab Today, arab today iran hopes opec lowers output

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday