Arab Today, arab today iran sees no need for opec emergency prices meeting
Last Updated : GMT 18:42:37
Arab Today, arab today
Arab Today, arab today

Crude prices could fall below $100 per barrel

Iran sees no need for OPEC emergency prices meeting

Arab Today, arab today

Arab Today, arab today Iran sees no need for OPEC emergency prices meeting

OPEC officials originally planned an emergency summit if prices dropped
Tehran – Arabstoday

OPEC officials originally planned an emergency summit if prices dropped Tehran – Arabstoday Iran sees no need for an emergency meeting of the oil cartel OPEC over a recent drop in crude prices before the producers' annual session at the end of May, Oil Minister Rostam Qasemi said on Saturday. "No extraordinary meeting is needed as the May 31 meeting is coming up, and the price of oil had not gone below 100 dollars per barrel for a long time," Qasemi told reporters on the sidelines of an oil and gas trade fair in Tehran.
In the last meeting of OPEC, held on December 12, oil producers decided to hold an emergency session if oil prices fall below 100 dollars per barrel, Qasemi said.
His remarks came after Venezuela's top oil official reportedly said Thursday that OPEC officials were weighing holding a special meeting on the market if prices continue to fall.
The Organisation of Petroleum Exporting Countries (OPEC) is set to meet in Vienna on May 31.
Oil prices gained Friday on speculation that OPEC plans to cut output, recovering somewhat from sharp losses earlier in the week over worries about weakening Chinese economic growth.
In New York, the main contract, WTI crude for delivery in May, added 28 cents from Thursday to end at $88.01 a barrel.
In London, Brent North Sea crude for delivery in June gained 52 cents to $99.65 a barrel, unable to hold onto a rebound above the $100 line earlier in the day.
Iran is OPEC's fourth biggest producer, after Saudi Arabia, Iraq and Kuwait, according to the group's data. In 2011, it ranked second.
But under sanctions over its controversial nuclear programme, Iran's output dropped to 2.67 million barrels per day in February, from 2.72 the previous month, OPEC said in April, citing secondary sources.
Qasemi did not talk about the figures but confirmed that Iran's oil production and export indeed declined in 2012.
"Our export has declined (in 2012) compared to the previous year because the European nations are not buying from us and naturally we have had a decline in oil production.
"Except for our European customers we still have our other customers and we are talking to others for new deals," Qasemi said.
Qasemi said Iran was talking to ally North Korea to buy Iranian oil.
"We hope to reach an agreement over North Korea importing oil from us," he said.
North Korea, an ally of Iran since the 1979 Islamic revolution, is also under Western and UN sanctions over its nuclear programme.
OPEC had voted to re-appoint Secretary General Abdullah El-Badri to lead the cartel for another year after members failed to agree on a new leader in December.
The world's biggest oil exporter Saudi Arabia had been battling against Iraq and Iran to have its candidate succeed El-Badri, who has steered the cartel through the world's financial crisis as its secretary general since 2007.
Qasemi said Iran is also pushing for its own nominee, former oil minister Gholam Hossein Nozari, to take El-Badri's post.
"We are still in contact with the members about our nominee, since the appointment has to happen on consensus," he said.

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 sees no need for opec emergency prices meeting Arab Today, arab today iran sees no need for opec emergency prices meeting

 



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 sees no need for opec emergency prices meeting Arab Today, arab today iran sees no need for opec emergency prices meeting

 



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: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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