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Iran's oil minister says $60 is a good price for crude oil

Reuters  |  NEW DELHI 

By Nidhi VermaNEW DELHI (Reuters) - Iranian Oil Minister Bijan Zangeneh said on Wednesday that $60 a barrel is a good price for oil currently as the market should avoid volatility. "I believe in this situation around 60 (dollars per barrel) is a good price," said Zangeneh, who was attending the International Energy Forum."I think we should look at the market not for short-term, long-term, mid-term is important for us," he said. "It is very important for producers and consumers not to have volatility in the market."When asked if global benchmark Brent oil trading at $70 a barrel were too high, ...

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First Published: Wed, April 11 2018. 12:58 IST