Iran Wants OPEC to Adjust Output for Libya, Iraq Oil, Mehr Says
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Iran’s Oil Minister Rostam Qasemi said some OPEC members should curtail output to accommodate the return of Libyan crude to markets and an increase in Iraqi production, the state-run Mehr news agency reported.
Iran will suggest at the planned Dec. 14 meeting of the Organization of Petroleum Exporting Countries that members of the group that boosted output this year in the absence of Libyan exports should scale back production, Qasemi said, according to Mehr. Iran, OPEC’s second-largest producer after Saudi Arabia opposes increasing output and is seeking “fair” crude prices, the minister said, according to the report.