TEHRAN, Nov 24: Iran believes the Organisation of Petroleum Exporting Countries should further slash output in the face of falling crude oil prices, a newspaper reported on Monday.
“Opec decided to cut production by 1.5 million barrels (a day) in October, but it could not stop oil prices from falling,” Iran’s Opec envoy Mohammad Ali Khatibi was quoted a saying by the Resalat daily.
“So it appears that Opec needs to further reduce production to prevent this trend,” Khatibi said.—AFP
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