Iran shows optimism about crude oil concessions to SL

Iran government has responded positively to supply crude oil to Sri Lanka at concessional prices, a Sri Lankan Finance Ministry statement yesterday said. The request was made by Finance Minister Ravi Karunanayake during a meeting he had with the visiting Iran Energy Minister Hamid Chitchian. The meeting was also attended by Iranian Ambassador to Sri Lanka Mohammed Zaeri Amirani. Many oil exporting nations (OPEC) have agreed to cut oil production significantly to prop up the lower oil prices. Though Iran had welcomed this move, it had not so far committed to an oil output freeze. Brent crude prices are currently hovering around US $ 35 per barrel and OPEC Basket at US $ 28.