- Breaking News daytime dramas
- Breaking News Ask Amy: Planning Second Wedding is Just as Stressful
- Breaking News Growing Older: Handling grief during the holidays
- Breaking News Guest commentary: Betraying the California Dream
Iran says oil output hike would not affect prices
0 Comments | AFP, June, 2008
TEHRAN (AFP) — Major crude oil producer Iran said on Friday that increased oil output would not affect skyrocketing prices after a statement by Saudi Arabia revealed that the kingdom would pump more crude to market.
"Increases oil production does not have such an impact that it would decrease prices because enough oil exists in the global market," Iranian Oil Minister Gholam Hossein Nozari was quoted as saying by the Mehr news agency.
"Just compare 300,000 (barrels per day) with about 86 million (bpd), which are the market's need! What would be the effect?" Nozari asked rhetorically.
A statement posted on Thursday on the website of the Saudi embassy in London said the kingdom would boost its daily oil output by 200,000 barrels.
The statement was...
- Portfolio forecasting tools: what you need to know
- Made from scratch: When Honda built a plant in Alabama it also built a workforce-using local workers who had no experience in making cars - Recruitment & Hiring
- How Sources, Reporters View Math Errors in News
- Halo Debt Solutions, Inc. Gives Debt Settlement a Face-Lift
- Banking technology, technological learning and competition: comparative case studies in Thai banking
- Why fly solo when an executive assistant can accelerate your CLNC® business?
- ECR Software Corporation Wins Vitamin Retailer Magazine 'Vity' Award
- Fighting financial reporting fraud