Iran Sees $75 Oil Amid Plans for Post-Sanctions Output Boost
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Iran, OPEC’s fifth-biggest producer, sees $70-$75 per barrel as a suitable price for crude, Oil Minister Bijan Namdar Zanganeh said, as markets show signs of a partial recovery from last year’s collapse.
“Nobody is satisfied with current prices and instabilities and fluctuations,” Zanganeh said Wednesday at a news conference in Tehran. “I think everyone is very satisfied with $70 to $75,” he told reporters later. Brent crude, an international benchmark, was trading at $66.48 a barrel Thursday at 3:27 p.m. in London.