ID :
176764
Wed, 04/20/2011 - 11:42
Auther :
Shortlink :
https://oananews.org//node/176764
The shortlink copeid
Iran's OPEC director sees further rise in oil prices by end 2011
TEHRAN, April 20 (MNA) -- Iran’s OPEC director Mohammad-Ali Khatibi said it expects global crude prices to further rise by the end of 2011, AFP reported.
“The price of oil depends on two things: First, the fundamentals, including supply and demand, and then the political, psychological and unforseen elements. Based on these factors, oil prices should increase again by end of the year,” he said on the sidelines of Iran Oil Show in Tehran.
He said oil demand in 2011 will be high, between 1.3 million barrels per day to 1.6 million barrels per day.
“What is certain is that we will see a rise in demand,” he said.
“The price of oil depends on two things: First, the fundamentals, including supply and demand, and then the political, psychological and unforseen elements. Based on these factors, oil prices should increase again by end of the year,” he said on the sidelines of Iran Oil Show in Tehran.
He said oil demand in 2011 will be high, between 1.3 million barrels per day to 1.6 million barrels per day.
“What is certain is that we will see a rise in demand,” he said.
