Iran Says No Need for OPEC to Meet Soon Even if Crude Prices Rise to $120

OPEC members see no reason for the group to hold an emergency meeting even if prices rise as high as $110 or $120 a barrel, Iran’s Oil Minister Masoud Mir- Kazemi told reporters today. “I don’t see a need any time soon for an emergency meeting,” he said in Tehran. The Organization of Petroleum Exporting Countries plans to hold its next regular meeting in June. Iran currently hold the OPEC presidency.
source:Bloomberg