Tehran Times cited Mr Rostam Qasemi Oil minister of Iranian as saying that OPEC will hold an extraordinary meeting if oil prices come down below USD 100.
Mr Qasemi said that''According to projections,oil prices will remain higher than USD 100 per barrel in 2013.However,if the prices go under USD 100 OPEC will hold urgent meeting to cut production ceiling.''
During the 162nd regular ministerial meeting of the OPEC in Vienna,Austria,member states agreed to maintain the organization's production ceiling of 30 million barrels per day.
OPEC,which provides about 35%of the world's oil,is a permanent intergovernmental organization of 12 oil exporting countries,including Algeria,Angola,Ecuador,Iran,Iraq,Kuwait,Libya,Nigeria,Qatar,Saudi Arabia,the United Arab Emirates and Venezuela.
According to OPEC Secretariat calculations,the price of OPEC basket of twelve crudes stood at 107.20 dollars a barrel on Thursday,compared with USD 107.10 the previous day.
