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Iran’s ‘cure’ for oil prices

Posted on 04 March 2009

From Forbes: Oil minister Nozari loosely promises a solution, but it might not go very far. These are uncertain times for energy exporters like Iran. Crude oil prices are trading around $40.00 per barrel, which admittedly is slightly above Iran’s expectations of $37.50 for this year’s budget, but still a far cry from the $100.00-plus prices seen at the height of summer 2008.

Although Iran and its fellow members at the Organization of Petroleum-Exporting Countries are unlikely to announce any more production cuts when they meet on March 15, Iran’s oil minister Gholamhossein Nozari still let slip on Tuesday that OPEC would consider a “new solution” to boost prices….. Full Article: Source


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VRS - who has written 36064 posts on Opalesque Commodities Briefing.


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