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OPEC may meet to discuss falling oil prices
11/08/2011
TEHRAN (Reuters) delegate said Iran's OPEC on Wednesday that the ministers of the Organization may hold an emergency meeting if they feel the member states concerned by the drop in oil prices. and Mohammad Ali Khatibi said if the price of oil to the level of concern and felt the member concerned there is a possibility for negotiations and a meeting emergency. He did not say my fiance level which is expected to push OPEC to hold emergency meeting. He did not specify the member states of any level of prices and have different opinions some say that 80-90 dollars an appropriate scale, while some believe that a price above $ 100 appropriately. and Brent crude rose three dollars on Wednesday after he pledged to the Federal Reserve (Fed) to keep interest rates near zero for another two years, which helped oil to change its direction after a sharp fall amid fears in the markets of renewed global recession. Khatibi said that the downward trend that has occurred in earlier did not not a reflection of the oil market fundamentals, and added in the current situation is not the main factors for the oil market has no effect on oil prices. There are usually wrong ... They fix the prices of oil indicators of stock market does not seem that this relationship is scientifically valid. And take Iran, a senior OPEC members who have a firm attitude towards the price the rotating presidency of the organization. At a meeting of OPEC last on the eighth of June, succeeded the Islamic republic to foil the efforts led by Saudi Arabia to raise production quotas, which prompted Saudi Arabia to raise output unilaterally, a move denounced by Tehran. and informed the Iranian oil minister the new semi-official Mehr news agency reported on Wednesday that he hopes to be the position of Iran's growing influence in OPEC. Rostam said Ghasemi Saudi Arabia is not everyone in OPEC. Expected to play Iran as well as other members of the OPEC role (more) important in OPEC through more cooperation and convergence.
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