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| Oil prices to hold steady in 2Q, Iran forecasts |
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.jpg) TEHRAN – Iranian Oil Minister Rostam Qasemi has evaluated current oil prices in world markets as reasonable, forecasting that the prices would remain steady in the second quarter of 2013.
He made the remarks on the sidelines of the third meeting of energy and oil ministers of the Economic Cooperation Organization, which wrapped up in Tehran on Wednesday, IRNA reported.
Oil prices fell in Asian trade Friday as the market awaited the release of U.S. payrolls data amid lingering concerns over a prolonged budget stalemate, analysts said.
New York's main contract, light sweet crude for delivery in April eased 25 cents to $91.31 a barrel and Brent North Sea crude for April delivery dipped 40 cents to $110.75.
On December 23, 2012, Qasemi said that OPEC will hold an extraordinary meeting if oil price comes down below $100.
"According to projections, oil prices will remain higher than $100 per barrel in 2013. However, if the prices go under $100 OPEC will hold urgent meeting to cut production ceiling," Qasemi said.
During the 162nd regular ministerial meeting of the OPEC in Vienna, Austria, on Wednesday, member states agreed to maintain the organization's production ceiling of 30 million barrels per day (bpd).
OPEC, which provides about 35 percent of the world's oil, is a permanent intergovernmental organization of 12 oil-exporting countries, including Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.
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