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Iran Figures Oil Price Of $55 Is 'Suitable'

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The Iranian Oil Minister said on Saturday that Iran sees $55 per barrel as a suitable price for crude oil. The minister added he believes that OPEC and non-OPEC producers are likely to extend output curbs to support prices. According to the oil ministry's news website SHANA, the Iranian government feels $55 a barrel would be suitable for oil. Reuters reports that oil prices closed higher on Friday. It was a rebound from five-month lows, following assurances by Saudi Arabia that Russia is ready to join OPEC in extending supply cuts to reduce a persistent glut.http://feeds.reuters.com/~r/reuters/t...http://www.wochit.comThis video was produced by YT Wochit News using http://wochit.com

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