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Iran Believes Oil Will Reach $80pb
Oil prices may reach $80 per barrel by the end of 2009, Iran's OPEC governor said.

"Because of encouraging developments in the oil market, the oil prices will reach $80 per barrel by the end of this year," Mohammad Ali Khatibi said.
Oil climbed above $67 on Friday, rising for a second day on renewed expectations, mainly on equity markets, of a global economic recovery that may increase the world's energy demand.
Iran's OPEC governor said on Friday that some of the cartel members may demand in its next meeting further crude production cut if oil prices continued to drop.
U.S. light crude was up 35 cents at $67.29 a barrel by 0758 GMT. London Brent crude gained 16 cents to $70.27.
On Thursday, oil jumped more than 5 percent, to register its biggest one day gain since early April.
Moj News
Aug 3, 2009 09:17
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