Iran's oil minister said signs of improvements in Chinese and Indian crude oil demand could improve oil prices, the daily Resalat newspaper reports Thursday.
"There are signs of changes in oil demand in China and India that could return the market to its previous state," Resalat quotes Gholam Hossein Nozari as saying, citing the semi-official Mehr News Agency.
Nozari said crude oil demand and supply will determine crude prices, reports the daily.
"The relation between the amount of supply and demand will be the basis for determining the price of crude oil," he said, Resalat reports.
"In OPEC's upcoming meeting, there will be a clearer picture of (the state of) world oil markets during the upcoming months," Nozari added, according to Resalat.