Wednesday, Apr 10, 2013
By Benoit Faucon
LONDON--The current oil price range of $100 to $110 a barrel is satisfying for both producers and consumers, Iran's OPEC governor was quoted as saying Wednesday.
The views suggest the organization is likely to keep its policies unchanged when it meets next month.
The governor's remarks--made to Iran's oil ministry website Shana by Muhammad Ali Khabiti, who represents Iran at the Organization of the Petroleum Exporting Countries--echoes similar views made by Saudi oil minister Ali al-Naimi in late March.
OPEC is next due to meet on May 31 in Vienna to debate its production ceiling, which many expect to remain at 30 million barrels a day. Mr. Khatibi, however, warned that oil prices and demand could still be hit by a weak economy.
"Economic performance of industrial countries is weak which in turn can affect oil demand and the oil market situation," he was quoted as saying.
Write to Benoit Faucon at benoit.faucon@dowjones.com
(END) Dow Jones Newswires
10-04-13 0755GMT
