Business | Oil & Gas
Iran says Opec to hold emergency meeting in February
Iran's state television says Opec countries have decided to hold an extraordinary meeting on falling oil prices in Kuwait in February.
- AP
- Published: 15:19 January 5, 2009
Tehran: Iran's state television says Opec countries have decided to hold an extraordinary meeting on falling oil prices in Kuwait in February.
The Monday report quotes Iran's Opec governor, Mohammad Ali Khatibi, as saying the organisation planned to hold a regular meeting in March. But he says the "trend of oil prices" calls for holding a meeting a month earlier.
Khatibi says the exact date for the meeting is not fixed and members of Organisation of Petroleum Exporting Countries haven't received an invitation, yet.
Iran supports a reduction of oil production to increase oil prices, which provide some 80 percent of its foreign revenue.
The price of oil has plunged from $147 a barrel in July to around $40.
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
