On November 17, Iran President Mahmoud Ahamdinejad stated that the pressure on fossil energy market is not artificial and the prices of crude oil were floating around $100 per barrel and this was still lower than the actual value.
President Ahmadinejad also said that the pricing of oil in US dollar was seriously affecting the manufacturing countries and that something needed to be done about such deteriorating conditions.
Prices of oil reached over 95 dollars on Friday in the midst of a summit of OPECOPEC Organization of Petroleum Exporting Countries.
Allying with fellow US rival Venezuela, Iran has summoned final summit to express concerns about the declining US currency value and its consequent impact on oil revenues.
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