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Page added on May 7, 2018

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Iran oil min says Tehran prefers ‘reasonable’ oil price

Consumption

Iranian Oil Minister Bijan Zangeneh said on Sunday that Tehran preferred a “reasonable” crude oil price to avoid market instability, the ministry’s news agency Shana reported.

Zangeneh said that reasonable oil prices would “encourage producers to keep supply while it would prevent global markets from plunging into instability,” according to Shana.

He added that “manufactured tensions” were the reason behind the current rise in oil prices.

Oil prices rose about 2 percent on Friday, with Brent settling up $1.25 at $74.87 a barrel, as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran. [O/R]

Reuters



9 Comments on "Iran oil min says Tehran prefers ‘reasonable’ oil price"

  1. twocats on Mon, 7th May 2018 1:22 pm 

    savvy political move by Iran. there’s been a lot of articles about Saudi Arabia wanting $100 a barrel oil. I know they are mortal enemies – but in much of the west they’d be lumped together as “OPEC”.

  2. Duncan Idaho on Mon, 7th May 2018 2:11 pm 

    Iran actually holds the trump cards.
    I’ll let you figure it out.

  3. Cloggie on Mon, 7th May 2018 2:44 pm 

    Russia would love higher oil prices as well.

  4. MASTERMIND on Mon, 7th May 2018 4:19 pm 

    Subtle message to the elites! Once the oil starts to run out! Its game on!

    https://www.youtube.com/watch?v=q3CLc0IGstk

    And Taylor Swift will learn how to suck all the niggas dicks! LOL

  5. pat on Mon, 7th May 2018 11:38 pm 

    the game over, world spare oil production capacity is dwindling fast(with high depletion, low hanging fruit gone) and only ever rising demand for scarce resource. world is near the end of oil age, oil shortages as early as end of 2018. prepare…..

  6. MASTERMIND on Tue, 8th May 2018 2:00 am 

    Pat

    Yup…And its not going to be pretty when it hits! This world will burn!

  7. deadly on Tue, 8th May 2018 4:25 am 

    The reasonable price I prefer is zero. Nothing, the best price and very reasonable.

    Some may disagree, but it is the preferred price for me.

    If you have a billion dollars, everything is going to be free.

    A one percent rate of return would yield ten million dollars per year for the person with a billion dollars. Even the money is free.

    For the knothead down the street with a fifty thousand dollar income and bills up the wazoo, free gas would help a lot, like the billionaires get.

    Donald Trump does not pay for the jet fuel to fuel up Air Force One, everybody else does.

    The 54,000 gallons of jet fuel is paid for by you, Trump rides for free.

    You gotta pay.

    Everything is free when you have that much money.

    If the President can fly for free, then everybody should have free fuel and transportation.

    It is only fair.

    Iran should give away their oil to the US. Iran is rich, they have a lot of stuff too.

    They could at least give away their oil. Ain’t gonna matter that much to them either.

  8. BobInget on Tue, 8th May 2018 7:53 am 

    ‘We’ are already giving away our children’s future, ‘selling’ oil below ‘real’ cost of production.

  9. BobInget on Wed, 9th May 2018 3:54 pm 

    Don’t forget, ONLY USD transactions can be
    sanctioned. This opens up cyber coin, euros, yuan
    etc

    IMO Trump went a long way towards killing off
    USD as THE world exchange currency.

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