Business | Oil & Gas
Iran to support Opec oil production cut: report
Iran would support a decision to cut oil production an a meeting in Cairo later this month, the Mehr news agency reported on Friday.
- Agencies
- Published: 12:31 November 14, 2008
Tehran: Iran would support a decision to cut oil production an a meeting in Cairo later this month, the Mehr news agency reported on Friday.
"In light of dwindling oil prices and instability in the market, Iran will support an oil production cut," Iranian representative Mohammad Ali Khatibi was quoted as saying.
Organisation of Petroleum Exporting Countries (Opec) is holding a meeting in November 29 to discuss recent oil prices.
Opec last month decided to cut oil output by 1.5 million barrels a day from November,
after crude oil prices dived from record peaks above $147 in July.
Related Links
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
