Rouhani raises concern over falling oil price 'plot'
Hosting Iraq’s Vice President Nouri al-Maliki this week in Tehran, Iran’s president raised the issue of falling oil prices and their implications for the region.
During a Tehran meeting with Iraqi Vice President Nouri al-Maliki today, Nov. 11, Iran’s President Hassan Rouhani expressed concern about the drop in oil prices.
“Today, from one side, extremism, violence and terrorism and from another side, the plot of the reduction in the price of oil are examples of the problems that have been created for the people of the region,” Rouhani said, according to the president’s website. He expressed hope that with “cooperation” these problems could be solved.
Rouhani did not explain exactly what this “plot” was but given that many believe Iran needs oil to be at well above $100 per barrel to maintain its budget, the current price just above $80 per barrel must have Iran concerned.
In mid-June, when the Islamic State (IS) took over parts of Northern Iraq, prices were near $115 per barrel.
