Azerbaijan, Baku, June 30 /Trend M. Moezzi/
Iran has asked for an emergency session of OPEC members because of oil prices decrease, the Islamic Republic News Agency (IRNA) reports.
During the meeting in Vienna on June 14 OPEC members had agreed that if oil prices decresases below $100 it would be a signal to a crisis, Iranian oil minister Rostam Ghasemi said.
Ghasemi mentioned the lower oil prices on OPEC members who don't obey production quotas and create disorder in the supply and demand market. At their last meeting, OPEC member pledged to follow production quotas.
OPEC's production ceiling is 30 million barrels a day but that had climbed to 31.5 million barrels before the June 14 meeting. It seemed logical, said Mr. Ghasemi, that if members followed their promise not to over produce, prices and the market would act more rationaly.
Iran has previously called Saudi Arabia and its two allies, Kuwait and the United Arab Emirates (UAE) as the biggest violators of OPEC's production ceiling and the primary cause of lower global oil prices.