[08/March/2010]

TEHRAN, March 8 (Saba) -- An Iranian oil official said the fair crude price in current market is 100 U.S. dollars a barrel, the local satellite Press TV reported Monday, according to China Xinhua.

"The average price of crude in the international market has been 75 U.S. dollars a barrel since the beginning of the year, but its fair price should be around 100 U.S. dollars a barrel," Iran's envoy to the Organization of the Petroleum Exporting Countries ( OPEC) Mohammad Ali Khatibi, was quoted as saying.

Factors such as global inflation and the fluctuation of dollar value should be taken into consideration when setting the price for crude, Khatibi said on Monday.

"Oil market stability can be achieved through cooperation between all parties involved in the market, including OPEC and non- OPEC producers as well as consumers," he said.

Oil prices have been moving between 69 dollars and 84 dollars a barrel in the past few months, as investors tried to define the strength and sustainability of recovery.

Iran, one of OPEC members, is the world's fourth largest oil producer.

Saba