ID :
25427
Sun, 10/19/2008 - 14:17
Auther :
Shortlink :
http://m.oananews.org//node/25427
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Oil Minister Gholam Hossein Nozari on Saturday called for the Organization of the Petroleum Exporting Countries to hold emergency meeting
Ahvaz, Khuzestan prov, Oct 19, IRNA - Oil Minister Gholam Hossein Nozari on Saturday called for the Organization of the Petroleum Exporting Countries to hold emergency meeting on the dramatic fall of oil prices.
Speaking to reporters at Ahvaz Oil Faculty, in this oil rich southern
province, Nozari said that Iran as an active member of the oil cartel
called on its member states to hold an emergency meeting to find ways
to prevent the downturn of oil price.
The minister added that the meeting would likely be held next Friday.
He did not refer to the venue of the upcoming meeting.
"The only way to stop the downturn is to trim OPEC output," Nozari said.
He added that the downturn of the oil prices was resulted by the
ongoing economic crisis as well as reduction of demand.
Nozari said that OPEC is expected to strike a balance to supply and
demand and help stabilize and increase oil prices at the world market.
Speaking to reporters at Ahvaz Oil Faculty, in this oil rich southern
province, Nozari said that Iran as an active member of the oil cartel
called on its member states to hold an emergency meeting to find ways
to prevent the downturn of oil price.
The minister added that the meeting would likely be held next Friday.
He did not refer to the venue of the upcoming meeting.
"The only way to stop the downturn is to trim OPEC output," Nozari said.
He added that the downturn of the oil prices was resulted by the
ongoing economic crisis as well as reduction of demand.
Nozari said that OPEC is expected to strike a balance to supply and
demand and help stabilize and increase oil prices at the world market.
