Minister of Oil Says Iran Will Not Lower Crude Price

Iran's Minister of Oil, Gholam-Hossein Nozari, said Monday that Iran will not lower its crude price, the official IRNA news agency reported. Iran has not lowered its crude price and will not lower it, Nozari told the reporters when asked about the rumors around the country's decision to lower its crude price. "None of oil producing countries will lower their oil prices and the prices will be decided by the market variables and the supply and demand mechanism," Nozari was quoted as saying. He said that policy making and raising prices are among key goals of Iran's Oil Ministry......Complete Story