Iran's oil minister said Monday that OPEC nations should not change their crude output targets at their upcoming meeting in Vienna.
Masoud Mirkazemi told reporters on the anniversary of the nationalization of Iran's oil industry that the world should expect oil prices to remain at around $80 per barrel this year, SHANA news agency reported.
"The idea of Islamic Republic of Iran is not to increase production and OPEC should not take any decision to change production," he said. "We estimate that we can expect an oil price of $80 per barrel for this year."
Mirkazemi's remarks come as the 12-member group, which supplies about a third of the world's crude, is set to meet March 17. Analysts do not expect a change in production targets.
A day earlier, Mirkazemi was quoted on the Oil Ministry's website as saying that OPEC members should push for greater compliance with their existing output quotas, citing an oversupply of oil in the world.
OPEC is meeting on Wednesday in Vienna and oil analysts forecast it will keep its official quota at 24.84 million barrels a day.
Oil prices tumbled from historic highs of more than 147 dollars in July 2008 to about 32 dollars in December last year as the global recession bit. But they have since made up ground on hopes of economic recovery.