Business | Oil & Gas

Iran: More Opec output cuts not expected at March meeting

Iran's oil minister says Opec is not expected to announce any new output cuts at a meeting later this month, ISNA news agency reported on Sunday.

  • Agencies
  • Published: 12:29 March 1, 2009
  • Gulf News

Tehran: Iran's oil minister says Opec is not expected to announce any new output cuts at a meeting later this month, ISNA news agency reported on Sunday.

"I do not think that we would move towards cutting production again and we should define a mechanism to repair prices," Gholamhossein Nozari was quoted as saying.

"At this meeting, the economic condition in the years 2009 and 2010 should be evaluated for a decision to be made," he said, referring to the gathering on March 15 of the Organisation of the Petroleum Exporting Countries in Vienna.

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