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Iran wants OPEC output cut: report

Business Materials 15 November 2008 15:06 (UTC +04:00)

Iran wants OPEC to decide to cut oil output by a further 1 to 1.5 million barrels per day at its scheduled meeting in Cairo on November 29, the Islamic Republic's OPEC governor was quoted as saying on Saturday.

"It is better that, at the meeting in Cairo, it (OPEC) decides to cut output by another 1 to 1.5 million barrels so that there is ... balance between production and demand," state broadcaster IRIB's website quoted Mohammad Ali Khatibi as saying, reported Reuters.

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