Iran's representative to OPEC, Mohammad Ali Khatibi, said that the Western economies oppose soaring oil prices to reach $80 per barrel, arguing that such a hike would prolong the global economic crisis.
"Some of these countries claim that $80 per barrel will lead to a continued stagnation in global economy," Khatibi told the Mehr News Agency on Thursday
He said that these Western countries "believe that cheap oil will help global economic recovery."
However, Khatibi said OPEC has no intention to increase its output quota in its next meeting because of the large storage level of oil in the world. Khatibi also added there is no pressure on the cartel to increase its production.
Khatibi added that the consumers are satisfied with oil prices at $70. However, he said, whenever there is talk of oil prices above $70 "they put pressure on OPEC."
He said the stagnation in the Western economies is not due to high oil prices but it is an issue related to structural economic problems.
Iran in OPEC
Khatibi said Iran, as the second largest oil producer within OPEC, has always enjoyed a good status within the oil cartel "but the Oil Ministry has been playing an active role in OPEC over the last two years."
Iran's representative to the 12-member body also said Tehran "fully observes its quota set by OPEC."