Iran says current OPEC production is enough |
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Published
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Sun, 26 Aug 2007 10:20
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TEHRAN (Thomson Financial) - Iran, OPEC's second-largest oil producer, said on Saturday it does not foresee any change in the cartel's output ceiling to be decided at the Sept 11 meeting in Vienna.'It seems that the current OPEC production is enough and that at the next meeting the current ceiling will be kept,' caretaker Oil Minister Gholam Hossein Nozari was quoted as saying by the ISNA news agency.On Aug 13, a day after Nozari's appointment by President Mahmoud Ahmadinejad who had replaced the oil minister in a surprise decree, a ministry official told Agence France-Presse that Tehran's policy towards OPEC would not change.In one of his final statements as oil minister, Kazem Vaziri Hamaneh said last month that Iran firmly opposed a hike in OPEC's crude oil output to keep oil prices down.There had been growing calls from consumers for an increase in production after the price of crude rose to record highs of just under 80 dollars a barrel.However Vaziri Hamaneh attributed surging oil prices to political concerns and a shortage of petrol in the United States during the summer holiday season, and said they were unrelated to OPEC quotas.At its last regular meeting in March, OPEC decided to keep its official production quota at 25.8 million barrels of oil per day.afp/msmsCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Oil prices fall in morning Asian trade on profit taking; below 77 usd a barrel 