Bloomberg News

Iran’s Oil Minister Sees $100 as Fair Price for Crude, Mehr Says

July 31, 2012

Iran views $100 as a “fair” price for crude oil, the state-run Mehr news agency reported, citing the OPEC-member nation’s oil minister.

Rostam Qasemi said the Organization of Petroleum Exporting Countries no longer needs to hold an emergency meeting to address declining prices, as crude sells now for more than $100 a barrel, according to the report today. Qasemi last month urged the producer group to call such a meeting. Brent crude is trading today at more than $105 a barrel on the London-based ICE Futures Europe exchange.

To contact the reporter on this story: Yeganeh Salehi in Dubai at yalehi@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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