Reuters: Iran's OPEC governor said if oil prices continued to drop some cartel members may demand further production cut of its oil output, the official IRNA news agency reported on Friday.
TEHRAN, July 31 (Reuters) – Iran's OPEC governor said if oil prices continued to drop some cartel members may demand further production cut of its oil output, the official IRNA news agency reported on Friday.
"If the (oil) prices continue to decrease, some OPEC members may ask for a further production cut," Mohammad Ali Khatibi was quoted as saying.
" … Because of the international economic situation, oil prices are not expected to increase by the end of the year (January)," he said. "Also for the same reason demand is not expected to increase."
(Writing by Parisa Hafezi, Tehran newsroom)
