Iran Sees Oil Prices Falling to $90 a Barrel By Late March
Oil prices will likely fall to $90 a barrel
by the end of the winter, Iran's head of oil sales was quoted as saying
Tuesday, countering views by other producers that expect prices to
rebound.
The remarks come after members
of the Organization of the Petroleum Exporting Countries said in recent
days they expect oil prices to rebound after it fell below $100 a barrel
earlier this month. But in remarks carried by Iran's oil ministry
website Shana,
Mohsen Ghamsari,
the director at the National Iranian Oil Company in charge of
international oil sales, said that "if the oil market only looks at
supply and demand, the oil price will further decline in the global
market."
Though it has fallen in recent
weeks, the Brent oil contract—the most widely traded in the world—has
remained above $95 a barrel. But Mr. Ghamsari said "the oil price will
likely fall to $90 a barrel by the end of this year," referring to the
Iranian year that ends in late March.
Saudi Oil Minister
Ali al-Naimi,
along with OPEC's Secretary-General
Abdalla Salem el-Badri,
both said they expect the oil price to rebound.
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