TEHRAN: Iran's oil minister said on Tuesday the drop in demand could push OPEC to cut output by 2- 2.5 million barrels per day and said the "era of c
heap oil is finished."
Gholamhossein Nozari told reporters a drop in demand "can push OPEC to cut the current production by 2-2.5 million barrels per day."
Iran's OPEC governor, Mohammad Ali Khatibi, cited different views in OPEC on the cut needed, ranging from 1-3 million bpd. Asked what oil price Iran wanted, Nozari said, "The more the better."
Oct 21, 2008
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