Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that OPEC should take action at the meeting on Jan. 30 if the international crude oil price drops under $40 a barrel. But Saudi Arabian Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-n'aimi said it's too earlier to discuss oil output cut plan.
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Crude Price Is Falling For The Present
Crude oil prices tumbled 20 percent
Crude oil prices tumbled 20 percent since the recording high in October last year. US light sweet crude closed $45.43 per barrel on Monday on the New York Mercantile Exchange.
In London, Brent North Sea crude futures were $43.18 in the day on the IPE.
Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that OPEC should take action at the meeting on Jan. 30 if the international crude oil price drops under $40 a barrel. But Saudi Arabian Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-n'aimi said it's too earlier to discuss oil output cut plan.
Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that OPEC should take action at the meeting on Jan. 30 if the international crude oil price drops under $40 a barrel. But Saudi Arabian Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-n'aimi said it's too earlier to discuss oil output cut plan.
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