| 01 Nov 2008 |
|
Iran to cut oil production by 199,000 bpd: oil minister
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TEHRAN - Based on the recent OPECOPEC
decision, Iran will cut 199,000 bpd of its oil production as of today, Iranian Oil Minister Gholam-Hossein Nozari said here on Friday. "We expect all OPECOPEC
members to lower their oil production based on the specified quotas," he added, IRNA reported. In response to a question about the period of time the OPECOPEC
decision will be in effect, he said, "The trend will continue until the oil market is stabilized or OPECOPEC make a new decision on the issue." Referring to OPECOPEC
president's proposal for holding an emergency meeting prior to the December extraordinary meeting, Nozari said that if the slumping oil price continues, OPECOPEC will definitely hold an emergency meeting.
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