DUBAI: Opec hawks Iran and Venezuela yesterday called on fellow crude producers to shore up prices that have plunged more than 30 percent to four-year low ahead of an Opec meeting later this month.
Venezuelan Foreign Minister Rafael Ramirez, speaking in Iran, said: “We believe that the prices are at a very low level and instability in the market is in no one’s interest. A hundred dollars per barrel is the desirable price for Venezuela.”
Iran Oil Minister Bijan Zanganeh made similar remarks. “It is difficult to go back to the old (oil) prices but we should try to fix the prices as much as the current market situation allows,” Zanganeh said. reuters
