Cold season will push up oil price: Iran

TEHRAN (Reuters) – Iran’s oil minister suggested on Sunday crude at $100 a barrel was the lowest appropriate level but said factors like the approaching cold season would push up demand and prices, an Oil Ministry website reported.

Oil has fallen from a record level around $147 a barrel in July to around $115 a barrel.

Asked if crude priced at $100 a barrel was appropriate, Gholamhossein Nozari was quoted as saying by the ministry website SHANA: “This is the least price for oil.”

Reuters