Iran: Era of Cheap Oil is Over

From The Tehran Times

Iranian Oil Minister Rostam Qasemi has said that the era of cheap oil has come to an end, predicting that oil prices will further increase.

In an interview with the Mehr News Agency, he expressed satisfaction over the current prices of $100-108 per barrel, adding that the prices will go on rising in the near future.

In July, Qasemi announced that no longer there is a need for an emergency meeting of the Organization of the Petroleum Exporting Countries as oil prices jump over 100 dollars a barrel.

He also said the current price of oil is fair.

In October, Qasemi threatened Iran may stop oil exports if the West tightens sanctions against Tehran.

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