Business Services Industry
AUTUMN, WINTER OIL PRICES TO RISE - NIOC OFFICIAL
Info-Prod Research (Middle East), May, 2007
According to "Tehran Times", an official of the National Iranian Oil Company (NIOC) predicted that oil price will rise next autumn and winter. The NIOC Deputy Director of International Affairs Mohammad- Ali Khatibi said that the price will rise if the Organization of Petroleum Exporting Countries (OPEC) permits the consumer countries to use their oil resources.
The International Energy Agency's (IEA) recent studies on oil supply and demand have reversed most of its 2007 forecasts. The IEA in its early 2007 estimates predicted that the non-OPEC countries will increase their supply by two million barrels in the current year, said the official, adding the agency's reports are contrary to the idea. The average oil production of the non-OPEC countries in 2006 was 55.4 million...
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