Midnight Mike
2008-04-19, 11:59 AM
Saturday April 19, 4:51 am ET
Iran's president says oil at $115 a barrel is too low, calls for higher prices
TEHRAN, Iran (AP) -- Iran's hard-line president declared that crude oil prices, now above $115 a barrel, are too low, state media reported Saturday.
President Mahmoud Ahmadinejad told an oil and gas exhibition in Tehran on Friday that he thought the commodity still had to "discover its real value," according to the Web site of Iran's state-run television.
Oil prices have hit all-time highs above $115 a barrel in recent weeks, amid reports that oil and gasoline reserves in the United States were lower than expected and as the dollar sinks to record lows.
"The oil price of $115 a barrel in today's global markets is a deceiving figure. Oil is a strategic commodity that needs to discover its real value," the Web site quoted Ahmadinejad as saying.
http://biz.yahoo.com/ap/080419/iran_oil.html
Iran's president says oil at $115 a barrel is too low, calls for higher prices
TEHRAN, Iran (AP) -- Iran's hard-line president declared that crude oil prices, now above $115 a barrel, are too low, state media reported Saturday.
President Mahmoud Ahmadinejad told an oil and gas exhibition in Tehran on Friday that he thought the commodity still had to "discover its real value," according to the Web site of Iran's state-run television.
Oil prices have hit all-time highs above $115 a barrel in recent weeks, amid reports that oil and gasoline reserves in the United States were lower than expected and as the dollar sinks to record lows.
"The oil price of $115 a barrel in today's global markets is a deceiving figure. Oil is a strategic commodity that needs to discover its real value," the Web site quoted Ahmadinejad as saying.
http://biz.yahoo.com/ap/080419/iran_oil.html