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Iran, Opec basket at $60
- Iran: Sunday, October 08 - 2006 at 08:08
Iran's Oil Minister Kazem Vaziri-Hamaneh has said on state television that he hopes the price of the Opec basket will hit $60 a barrel, or more, this week, according to Reuters. The basket was priced at $54.2 a barrel last Tuesday. Opec's plan to cut output by 1m bpd should impact on prices, while Vaziri-Hamaneh commented that more oil would soon be needed as northern countries approached winter.
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Jonathan Sheikh-Miller, Deputy EditorSunday, October 08 - 2006 at 08:08 UAE local time (GMT+4)
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This article was updated on Sat Nov 11 2006.
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