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Commodities Briefing - Categorized | Market Moves, Oil more

Iran hopes OPEC lowers output: oil minister

Posted on 14 May 2013

Iran is unhappy with the current oil prices, its oil minister said Monday, hinting at a proposal for the OPEC to lower its output to compensate for a drop in crude prices. “Iran’s suggestion has always been to reduce OPEC production ceiling,” Rostam Qasemi told reporters at a petrochemical conference in Tehran.
The Organisation of the Petroleum Exporting Countries last week boosted production to 30.21 million barrels a day in April from 29.93 million in March maintaining a flat forecast of global demand………………………………………..Full Article: Source


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