Ahmadinejad says oil at $115 a barrel too low, calls for higher prices

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April 19, 2008 09:24

 
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Iran's hard-line President Mahmoud Ahmadinejad says crude oil prices at $115 a barrel is too low, saying the black gold has to "discover its real value." Oil prices have hit all-time highs above $115 a barrel with reports that oil and gasoline stocks in the United States were lower than expected and as the dollar has hit record lows. "The oil price of $115 a barrel in today's global markets is a deceiving figure. Oil is a strategic commodity that needs to discover its real value," Iran's state-run television website reported Saturday.

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