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High crude price ‘hurts’ Iran exports: Oil minister

Posted on 27 August 2013

Iran’s oil exports are being hurt by current high prices that make it more economical for rivals like the United States to produce more costly oil, Iran’s new energy minister said in an interview published by his ministry’s website on Saturday.
A week into the job, returning oil minister Bijan Zanganeh, who previously filled the post under the reformist president Mohammad Khatami, told oil ministry news service Shana that current prices of over $106 a barrel were a worry. His comments represent a shift in stance from those of Iran’s previous oil minister who repeatedly said he wanted oil prices to remain above $100 and played down the impact of sanctions on exports………………………………………..Full Article: Source


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