Saturday, May 08, 2004

More on Iran's backing of Pro-US Oil Move

Business News Article | "Iran's backing is needed for a supply increase that appears likely to be proposed by Gulf OPEC member the United Arab Emirates when the producer group meets in Beirut on June 3.
UAE Oil Minister Obaid bin Saif al-Nasseri said on Saturday oil prices that hit $40 a barrel on Friday were too high for comfort.
'A reading of the events and the prices says that OPEC must do something,' Nasseri told reporters. "


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