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24 April 2024

Iran predicts oil will be around $40 in 2009

Iran anticipates a $40 per barrel crude price. (AP)

By Reuters
Iran's Oil Ministry anticipates an oil price of about $40 a barrel in 2009, the official IRNA news agency quoted Oil Minister Gholamhossein Nozari as saying on Saturday.

Nozari also said oil producers outside Opec were not co-operating with the organisation in reducing crude output to restore stability to the market, IRNA said.