TEHRAN: Opec's secretary-general said on Tuesday that oil consumers and producer countries were "comfortable" with current oil prices and expressed hope that the cartel's member countries will reach a consensus over production targets at its next meeting.
"The price of $100 is comfortable for the consumer and the producing countries ...the crude price is not expected to come down until the end of this year.
"I am hopeful that there will be an agreement over Opec's production target in the next meeting," Abdullah al-Badri told reporters in Tehran.
Regarding Iran, he said: "The economic sanctions will slow down development of Iran's oil industry, but will not stop it".
Opec is scheduled to meet on Dec. 14 at its Vienna headquarters.
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