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Showing posts from January 20, 2015

Even if it hits $25-a-barrel, Iran’s not sweating falling oil


Published: Jan 20, 2015 10:24 a.m. ET

$50 may be the new ceiling for oil, says research group

Getty Images

Iran, for one, isn’t worried about oil prices.


MADRID (MarketWatch) — Do I hear $25-a-barrel oil?

Iran’s oil Minister Bijan Namdar Zanganeh hinted at even lower prices for crude as he declared his well positioned for plunging crude oil prices.

“If the oil prices drop to $25 a barrel, there will yet again be no threat posed to Iran’s oil industry,” said Zanganeh at a conference in Tehran on Monday, Bloomberg reported.

 That means the country should be sitting pretty as the Organization for Petroleum Exporting Countries, sticks to its guns on production cuts.

But Zanganeh also predicted that OPEC and non-OPEC countries will eventually “cooperate to restore balance to the oil market.”

Wishful thinking perhaps in a situation where the market only reads: too much supply, not enough demand. On Sunday, his Iraq counterpart, Adel Abdul-Mehdi, said h…

Ban on Indian mango imports to EU to be lifted

20 January 2015 

Last updated at 11:56 ET

By Tom Espiner
Business reporter

Indian mango shipments to the EU were suspended in May after fruit flies were found in consignments.

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A ban on Indian mango imports into the European Union is to be lifted, clearing the way for them to return to the UK and other member states.

However, other foodstuffs such as Indian aubergines, two types of squash, and a type of leaf used in cooking will remain restricted.

Indian mango shipments to the EU were suspended in May after fruit flies were found in consignments.

A European Commission committee voted to lift the ban on Tuesday.

There had been "significant improvements" in India's mango export system, the European Commission said after the unanimous vote.

The UK government previously said it was working towards the ban being lifted and was one of the member sta…