Jul 04 2011
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Iran: using strategic petroleum reserves will disturb oil market balance
The decision was made during their latest meeting in Vienna on June 8.
According to Khatibi, prior to making the decision, the global oil market was in a stable and balanced situation.
In the immediate aftermath of the June 8 Vienna talks, a newspaper, citing senior OPEC officials, reported that Saudi Arabia planned to boost output to 10 million barrels a day in July, the highest level in more than two decades.
Criticizing Riyadh's decision, Khatibi said the move would threaten oil price in the global market and add to its imbalance.
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