Oil price not to exceed $85 in long term

TEHRAN, Jul. 17 (MNA) – Iran’s former representative in the Organization of Petroleum Exporting Countries (OPEC) Mohammad Hossein Adeli said that oil price will not surpass from $80 to $85 in the long term.

The world will focus on LNG (liquefied natural gas) in future, he maintained.

Speaking in an expert-level meeting in the Representatives’ Board of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), he said, “Europe is interested in resisting against US-imposed restrictions seriously, so that all European officials in the recent international conferences have announced that they are determined to maintain their relationship with the Islamic Republic of Iran eagerly.”

Accordingly, European Union leaders have made up their mind to prevent European countries from sustaining fines as well as implementing ‘Blocking Statute’, Adeli emphasized.

He went on to say that Europe has considered $80 billion worth of credit for Iranian Small- and Medium-Sized Enterprises (SMEs) and called on domestic and foreign entrepreneurs to use credits allocated by Europe in this respect optimally.

Former Iran’s OPEC envoy reiterated, “today, Qatar is the largest exporters of LNG (liquefied natural gas) in the world, producing 75 million tons of LNG in the global market.”

Once Iran had made appropriate investment in this regard, it could have managed to circumvent sanctions logically, he observed.

At the current situation, China has decided to increase its gas consumption rate severely while India has reduced its coal consumption, he stressed.

Adeli said, “Russia has currently resorted to producing LNG, so that Islamic Republic of Iran should concentrate on producing and exporting LNG in international level.”

MA/4349032

News Code 135789

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