| Iran says no need for emergency OPEC meeting: minister |
| Last Updated(Beijing Time):2012-07-31 18:24 |
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Iranian Oil Minister Rostam Qasemi announced on Tuesday that no longer there is a need for an emergency meeting of the Organization of the Petroleum Exporting Countries (OPEC) as oil prices reach over 100 U.S. dollars a barrel, the semi-official Mehr news agency reported.
"In the light of the fact that the price of crude oil has climbed over 100 U.S. dollars, an emergency meeting of OPEC members has been cancelled," Qasemi was quoted as saying.
"It seems that 100 U.S. dollars is a fair price" for crude oil, said the Iranian minister.
According to the report, in early July, Qasemi called for an emergency OPEC meeting to cut output after oil prices fell below 100 dollars a barrel.
On Monday, Brent crude for September delivery was sold at 106. 20 dollars a barrel in London. |
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