Iran sees no long term oil price hike

TEHERAN — Iranian Oil Minister Bijan Namdar Zanganeh said yesterday that oil prices would not remain high for a long time following the death of Saudi Arabia’s King Fahd.

By (AFP)

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Published: Tue 2 Aug 2005, 10:28 AM

Last updated: Thu 2 Apr 2015, 4:11 PM

“His death would probably cause a temporary fluctuation in the world’s oil prices, but it will not have permanent impact,” Zanganeh told the student news agency ISNA.

Zanganeh also did not expect changes in the oil policies of Saudi Arabia. “Given that Saudi Arabia’s policies have been so far adopted by Abdullah, the Saudi oil policies should not naturally be changed. Therefore, the shock of King Fahd death will be temporary in the oil market.”


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