The real price of oil should exceed 100$

Iran’s Oil Minister said in remarks published on Saturday that he believed that the “real price” of crude barrels should exceed 100 $.

Saudi Arabia has said that 75$ a barrel is a fair price for crude which are echoed remarks by Iranian official echoed this month. The global crude prices have tumbled about $ 100 since July, were recorded in the transactions on Friday for $ 46 a barrel.

 
He informed the Iranian Oil Minister Gholam Hossein Nodhiri newspaper Paul “In my opinion, the real price of a barrel of oil should be over 100 $.”

 
“We (OPEC) has never put a fixed price of oil and our prices always up to the real level. OPEC policy is also based on this. ”

 
Nodhiri’s remarks came as OPEC ministers meeting in Algiers on Wednesday, where he is expected to announce a further cut new.

 
He said in response to a question about statements by some Iranian officials who said the prices within 70 to $ 80 a barrel would be desirable “may also be some sort of strategy.” He did not elaborate.

 
He said oil prices would decline too much damage to consumers by curbing investment in the production of crude.

 
“We believe that unless the true level of prices, consumers would be exposed to greater losses from producers due to a drop in the desire to invest in the oil industry with the imbalance between production and consumption.
Reuters