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| Iran to defend $100/bbl oil price at OPEC meeting |
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.jpg) LONDON -- Iran said it will push to defend the current oil-price level of $100 a barrel when OPEC meets Friday, the second member to reiterate such views in recent days.
The remarks come as delegates from the Organization of the Petroleum Exporting Countries are set to discuss competition with U.S. shale amid weak demand, when they meet this week in Vienna.
"The main focus of talks in the next OPEC meeting will be an examination of supply and demand and our country will still support $100 a barrel for oil," Iran's OPEC governor Muhammad Ali Khatibi said. Mr. Khatibi was quoted as making the remarks by the country's oil ministry Website Shana.
"Given the weak economic conditions of the industrial and developed countries, the global oil markets need to be managed," Mr. Khatibi said.
Friday, Venezuela's oil minister, Rafael Ramirez, said the country will push to maintain the current oil production ceiling at the OPEC meeting in order to hold the price of the commodity near $100 per barrel.
(Source: dowjones.com)
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