Iran Says Seeks Oil Price Suitable for Producers and Consumers

TEHRAN (Shana) -- The manager of the National Iranian Oil Company (NIOC) said on Sunday oil prices must be beneficial to both producers and consumers of crude.

"The [oil] price must be economical for both producers and consumers, while not harming production," Ali Kardor told a news conference.
 
"[Iran's] Minister of Petroleum [Bijan Zangeneh] is trying to convince OPEC to move in such a direction that prices would not climb or drop suddenly so that investors would work under secure conditions," he said.
 
Kardor also dismissed foreign media reports about a drop in Iran's crude oil exports in March, saying their reports lacked any "logical standing".
 
He said Iran smashed a record in April when it exported 2.6 mb/d of oil.
 
"We have no problem with oil supply on our traditional market," said Kardor.
News ID 282566

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