Organization of Petroleum Exporting Countries members favor a balanced crude oil market and could still decide on rolling over or cutting output at their upcoming meeting in Vienna in early September, Iran's OPEC governor said Tuesday.
"As far as I know, a balanced market is what (OPEC) members favor," Mohammad Ali Khatibi told Dow Jones Newswires in a telephone interview in Tehran.
"At the moment, the market is not balanced, there is oversupply," Khatibi said.