Iran says Opec plans emergency meet in Feb

Iran says Opec plans emergency meet in Feb
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First Published: Mon, Jan 05 2009. 05 00 PM IST
Updated: Mon, Jan 05 2009. 05 00 PM IST
Tehran: Iran’s state television says Opec countries have decided to hold an extraordinary meeting on falling oil prices in Kuwait in February.
The Monday report quotes Iran’s Opec governor, Mohammad Ali Khatibi, as saying the organization planned to hold a regular meeting in March. But he says the “trend of oil prices” calls for holding a meeting a month earlier.
Khatibi says the exact date for the meeting is not fixed and members of Organization of Petroleum Exporting Countries haven’t received an invitation, yet.
Iran supports a reduction of oil production to increase oil prices, which provide some 80% of its foreign revenue.
The price of oil has plunged from $147 a barrel in July to around $40.
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First Published: Mon, Jan 05 2009. 05 00 PM IST
More Topics: Iran | Opec | Oil | Production | Recession |