Iranian oil minister to attend Saudi oil meeting

[Dover]

Source: Bloomberg



Iranian oil minister to attend Saudi oil meeting
Bloomberg

Tehran: Iran's Oil Minister Gholamhossein Nozari and the country's OPEC Governor Mohammad Ali Khatibi will attend a meeting of oil producers and consumers to discuss soaring prices in Jeddah, Saudi Arabia, on June 22...cont'd












Read more: http://article.wn.com/view/2008/06/19/Iranian_oil_minister_to_attend_Saudi_oil_meeting/?section=TopStories&template=cheetah-raw%2Frelated-stories.txt

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Ahmadinejad says 'certain hand' distorting oil prices
Compiled by Daily Star staff


The current high price of oil is artificial and the market is well supplied with crude, Iranian President Mahmoud Ahmadinejad said on Tuesday, pinning the blame on the sliding dollar. "The rise in consumption is lower than the rise in production," Ahmadinejad told a meeting in the city of Isfahan of the Organization of Petroleum Exporting Countries' (OPEC's) fund for international development. "The market is well supplied but prices are rising and this situation is artificial and imposed" by world powers.

Ahmadinejad, who is president of OPEC's number-two producer, has repeatedly said that the current high price of oil is not based on fundamentals and driven largely by the weakness of the dollar.

"Certain hands, for political and economic ends, are controlling the price in an artificial manner," he said.

Ahmadinejad also said "certain powers" were keeping an artificial oil price to "fund the costs of their wars and occupations and to justify investments to exploit new sources of energy at the bottom of the oceans, at the poles and elsewhere." Oil prices have hit record highs of close to $140 a barrel.

cont'd

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=3&article_id=93224

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Kuwait Official: Oil Should Be 'More Or Less $100'.

http://www.chron.com/disp/story.mpl/business/energy/5841942.html

[SpiralHawk]

1. TRANSLATION: republicon oil cronies are screwing everyone

as usual