Iran Calls for OPEC Emergency Meeting on Output, Mehr Says

Iran called on OPEC to hold an emergency meeting to address the group’s production of crude in excess of the targeted 30 million barrels a day, Mehr news agency reported, citing the country’s Oil Minister.

Disregard of the target by some members of the Organization of Petroleum Exporting Countries “will negatively impact oil prices in the international market,” Rostam Qasemi said, according to the state-run agency’s report today. “The organization’s members must respect the production ceiling to maintain the supply and demand in oil markets,” he said.

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