No need for OPEC to increase output: Iranian official

Oil&Gas Materials 8 June 2011 11:11 (UTC +04:00)

Azerbaijan , Baku, June 7 / Trend/

Iranian Oil Ministry caretaker Mohammad Aliabadi opposed the increase of oil production by OPEC, Mehr News reported.

"There is no need for OPEC members to increase oil production," he said during OPEC conference in Vienna.

"It is not fair to change market with increase of oil," Abadi underscored. "We believe the market is balances and we have no concerns over oil supply."

Iran and Venezuela opposed the increase of oil production, whereas some Persian Gulf countries supported the increase of production.