Masoud Mirkazemi $100/b oil not a problem

Iran's Oil Minister Masoud Mirkazemi said on Sunday that $100 per barrel is a real price and not a matter of concern for producers.

The price of $100 for oil per barrel is real, he said, adding the Organization of Petroleum Exporting Countries (OPEC) does not need to hold an emergency meeting over the price issue.

""None of the OPEC members finds $100 concerning or irrational. Some of the OPEC members see no need for an emergency meeting even with prices at $110 or $120,"" Mirkazemi told a press conference in Tehran.

Iran holds the rotating OPEC presidency. The next scheduled OPEC meeting is on June 2.

""None of the members have asked for an emergency meeting and I think for a long time there would be no such request,"" Mirkazemi said.

OPEC is a permanent intergovernmental organization of 12 oil-exporting developing nations that includes Algeria, Angola, Ecuador, Iraq, Iran, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.

The organization supplies 25 percent of global oil demand, coordinates and unifies the petroleum policies of its member countries.

At its last meeting at Quito, the 12-nation organization decided to leave production quotas unchanged, stressing the looming risks to the fragile global economic recovery.

Some OPEC members -- Iran, Venezuela and Libya -- were urging higher prices at Quito to above 100 dollars a barrel to offset what they said were rising production costs.

But OPEC heavyweight Saudi Arabia differed, saying between 70 and 80 dollars a barrel was a ""fair price.""

Iran took over OPEC's rotating presidency from January 1