Iran: Oil Prices Below US$100/barrel Unsuitable

[DBrooksIsMyDaddy]

"Unsuitable", lol.   

http://www.iht.com/articles/ap/2008/10/04/business/ML-Iran-Oil.php

The Associated Press
Published: October 4, 2008

TEHRAN, Iran: Iran's Oil Minister said Saturday that it would be "unsuitable" for both producers and consumers for oil to dip below US$100 a barrel.

Gholam Hossein Nozari spoke on the sidelines of an international gas conference in Tehran, and urged fellow members of the Organization of the Petroleum Exporting Countries, or OPEC, not to pump too much oil and avoid a drop in prices.

"A price of US$100 and below is not suitable for anybody, neither oil producers nor oil consumers," he told reporters. "OPEC members need to respect their output quota to avoid a worsening of the oversupply," Nozari said.

Nozari said oil producers were pumping around 400,000 barrels per day more oil than the market needed.

"Oversupply could be controlled in the first quarter of 2009, given OPEC's decision to cut output," Nozari said.

The international economic crisis together with high fuel prices have hurt consumption in the United States and other industrialized nations.

Light, sweet crude for November delivery fell below US$94 a barrel on the New York Mercantile Exchange Friday, a sharp decline from the record US$147 a barrel in July.

Iran, the world's fourth-largest exporter, has traditionally opposed any crude output increase by OPEC, arguing that it would cause a fall in prices.

[kmitchell]

How many times do they need to say that until there are American flags in Teheran?

[Bucco40]

Tehran.

Iran needs to just be eradicated off the face of the planet.

[kmitchell]

Tehran (or Teheran) is the capital and largest city of Iran.

You think 70 million people should be eradicated off the face of the planet because they have a few bad politicians? In that case, take our 304 million with them.
Hitler wanted to eradicate the Jews, you guys have a lot in common.

[benchwarmer69]

Iran needs to just be eradicated off the face of the planet.

Praise Allah! (or however it's supposed to be spelled)

I work for a doctor of verinary medicine. Sometimes, I have to get supplies out of town for the office. However, If the people who are selling the product find out the HE is a DR, the price magically goes up...funny huh?

I'm thinking that's how the rest of the world treats us... The crap needs to be stopped. I propose we pull all or "helpful" operations out altogether. If we are so hated and prices jack up against us... I say hate back. A long time ago, our politicians believed in the idea that you get as much as you can, for as little as possible... or, what's in our countries" best interest"
.... WHAT HAPPENED TO THAT KIND OF THINKING?

Anarchy & an overthow of government is totally due. Half the politicians in the gov. are getting paid off by other governments and companies... c'mon!

[Bucco40]

Tehran (or Teheran) is the capital and largest city of Iran.

You think 70 million people should be eradicated off the face of the planet because they have a few bad politicians?

They put them in Power. He is Anti-American yet he loves our cash flow. I say Black Ops...Assassinate him....take out all these dictators.....its amazing what a trained assassin with a Sniper rifle can do for the world.

[kmitchell]

Ahmadinejad doesn't have the power. Iran is still technically a Theocracy, where the Mullah's still have the power. Ahmadinejad isn't a dictator either, he won the Presidential election in 2005. Quit talking for the love of God.