Iran: No need for OPEC to increase production

January 29th, 2008 | Category: Oil

Iran’s Oil Minister Gholam-Hossein Nozari said Tuesday that there’s no reason for OPEC states to increases oil production, PressTV Iran reported.

“There is no reason for the Organization of Petroleum Exporting Countries (OPEC) to raise output as we are approaching the warm season,” Nozari famous ahead of OPEC’s assembly in Vienna on Friday, February 1.

The West, including the United States, has stepped up pressure

on OPEC members to increase oil production to combat persistently high energy prices that many economists believe have slowed the U.S. and global economies. OPEC supplies about 40% of the world’s oil.

Continue reading Iran: No need for OPEC to increase production

Original post by Joseph Lazzaro

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