Azerbaijan, Baku, Nov. 1 / Trend F.Milad/
Iran's oil minister Rostam Qasemi has called those members of the Organization of Petroleum Exporting Countries, which raised their production to compensate for the loss of Libya's output, cut back their production based on OPEC quotas.
He made the remarks in a meeting in Tehran on Monday with OPEC's Secretary General Abdullah Salem El Badri, who is here to attend an international conference on oil and gas industry Nov. 1-2, the Mehr news agency reported.
Persian Gulf Arab oil producers raised oil supply this year to compensate for the loss of output from Libya, where civil war shut down production, Reuters reported.
The OPEC secretary general, for his part, said that the current situation of supply and prices are reasonable and favorable in the international oil markets.
"Supply and demand are balanced in the market and the prices are satisfactory" El Badri said.
The 12-nation organization, pumps about 40 percent of global crude supply, decided in their 159th meeting on June 8 in Vienna to keep output unchanged at 24.845 million barrels per day.