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Commodities Briefing - Categorized | Oil, Price Watch more

Official: Iran talking with OPEC members over crude prices

Posted on 25 April 2013

Crude oil prices have recently dropped to near $101 ahead of the next OPEC meeting on May 31. “Negotiations and consultations have begun with OPEC members and it is likely that an agreement could be reached between the members without holding any extraordinary meeting,” Nikzad Rahbar said on Tuesday.
He noted that the OPEC members are all unanimous that oil prices should remain above $100 per barrel. “Under the present circumstances, $100 (per barrel) is a reasonable price for crude oil, but any price lower than that will be definitely unreasonable,” Nikzad Rahbar added………………………………………..Full Article: Source


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