OPEC: normal oil price - $ 100 per barrel

The EU authorities embargo oil from Iran will push world prices for growth, REUTERS General Secretary of OPEC Abdulla al-Badri told Reuters. In his opinion, the acceptable cost of oil in the current situation should be $ 100 per barrel, while today Brent is traded above 111 dollars.

"The embargo, of course, will strengthen the volatility in the market, and this will push the prices up," Badri said at a conference in London. He believes that the "embargo is not the best way to solve problems", calling the countries to the dialogue.

The European Union introduced the embargo for the supply of oil and petrochemical products from Iran on January 23.

Soon after, the head of the National Iranian Oil Company Ahmad Kalekhban said that oil price could reach $ 150 per barrel, the IMF talked about prices up to $ 140.

The Secretary General of Kartel also stated that he was not disturbed by excess oil in the market, despite the fact that OPEC is 600 thousand barrels per day higher than the production quota of 30 million barrels per day. “When we say 30 million barrels per day, this means an average annual indicator. Sometimes 30.6, sometimes 30.1, and sometimes 30,” he said.

In general, the head of OPEC believes that the global oil market is in good condition. “There is no shortage in the world anywhere, I am very pleased with the decision of OPEC,” Badri emphasized.

It will most likely not be overlapping access to the Ormuz Strait , however, if this happens, it will be impossible to find a replacement for this export channel, said the Secretary General of OPEC.

In recent weeks, Iran threatened to react to the sanctions of the West by the blockade of the Strait of the Ormuzian Strait, through which a third of the global sea oil exports are carried out daily.

Alternative land oil pipelines can only be delivered from the total volume of oil, which usually passes through the strait.

According to al-Badri, Iraq will return to the quota system operating in OPEC, not earlier than the "beginning or middle of next year."