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TEHRAN, April 11 -Iranian Minister of Petroleum Bijan Zangeneh has said $60 a barrel is a good price for both oil producers and consumers and what is important is to avoid volatility in the market.
TEHRAN, Young Journalists Club (YJC) -Iranian Minister of Petroleum Bijan Zangeneh has said $60 a barrel is a good price for both oil producers and consumers and what is important is to avoid volatility in the market.
“I believe in this situation around 60 dollars per barrel is a good price,” Reuters quoted him as saying Wednesday in New Delhi where he is to attend the International Energy Forum.
“I think we should look at the market not for short-term, long-term, mid-term is important for us,” he said. “It is very important for producers and consumers not to have volatility in the market.”
According to the news agency, when asked if global benchmark Brent oil trading at $70 a barrel were too high, Zangeneh answered, “Yes.”
Zangeneh also said he hoped India and Iran can finalize the main issue on the development of the Farzad B natural gas field in the next two months.
The Indian media on Wednesday said Iran had agreed to a new arrangement but differences remained over investment returns.
The Press Trust of India said Iran had given up on its demand that Indian companies buy all the gas produced in the offshore field.
“Iran has now written to OVL, agreeing to take delivery of all of the gas produced from Farzad B offshore field at a landfall point in the Persian Gulf nation,” it said.
Source:PressTv
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