Posted AT 7:28 AM EST on 05/09/08
Iran says $100 oil “appropriate”
TEHRAN — Iran's OPEC governor said an oil price of $100 (U.S.) per barrel was “appropriate” in current conditions, the Oil Ministry's news agency Shana reported on Friday.
The oil minister of the world's fourth-largest crude producer had said earlier in the week that $100 a barrel was the lowest appropriate price. Crude has tumbled from a record $147 in July and was trading on Friday at below $107.
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