Oil at $100 Is a Good Price, Iran Minister Says
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Crude oil at $100 a barrel is a good price, though “demand is not good,” Iranian Oil Minister Masoud Mir-Kazemi said in Quito, Ecuador, today at a meeting of the Organization of Petroleum Exporting Countries.
“One hundred dollars as a nominal price is good, but real prices are weak,” Mir-Kazemi said before OPEC ministers began a closed-door meeting to decide whether to maintain current production levels. “The market is better than before but it’s not good because of the growth rate of the global GDP is low.”