Iranian oil minister Gholam Hossein Nozari on Tuesday said he believes the world oil market already has enough crude supply to last it into winter.
"We think that with regard to oil that the market is in good condition...I think that keeping the current level of output is the most preferable thing to do" going into winter, Nozari told journalists here.
He added that he believed "there will be no need to reduce supply" either in coming weeks when the Organization of Petroleum Exporting Countries holds its next meeting. OPEC is scheduled to meet Sept. 9 in Vienna. Iran is OPEC's second biggest producer after Saudi Arabia.