Iran, Opec basket at $60
Iran’s Oil Minister Kazem Vaziri-Hamaneh has said on state television that he hopes the price of the Opec basket will hit $60 a barrel, or more, this week, according to Reuters. The basket was priced at $54.2 a barrel last Tuesday. Opec’s plan to cut output by 1m bpd should impact on prices, while Vaziri-Hamaneh commented that more oil would soon be needed as northern countries approached winter.
