Iran will call on members of the Organization of Petroleum Exporting Countries to cut their output to levels seen before the war in Libya, the Islamic Republic's oil minister said Friday.
Iran
will
call on members of the Organization of Petroleum Exporting Countries to cut
their output to levels seen before the war in
Libya
, the
Islamic Republic's oil minister said Friday.
The remarks come after
Libya
's oil
head said Thursday that its production would return to half of its prewar level
of 1.6 million barrels a day by year-end, twice as fast as some experts had
expected.
Speaking to Iranian Oil Ministry website Shana, Rostam Ghasemi said that at
OPEC's Dec. 14 meeting "we will tell with members of the organization that
increased their production that given that
Libya
's
production has returned...we should have production back to its former
level."
Iran
currently holds the OPEC presidency.
Saudi Arabia
and
other Arab countries in the
Persian Gulf
boosted their output after civil war in February shut most Libyan production. But
an Iran-led group opposed the move at a cantankerous meeting in June, citing
uncertainty over the economic recovery.
Iran
has
become the focus of crude markets again after allegations it plotted to kill a
Saudi ambassador and is developing nuclear warheads led to fear of disruptions
in and stiff sanctions on its oil sector. The country deny both charges.
But asked by the official news agency IRNA whether prices would rise due to
sanctions, Ghasemi said "it does not seem crude prices will change."
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