Posted by
alfredlester on Sunday, June 26, 2011 10:18:40 PM
TEHRAN (AFP) - Iran Will continue to oppose pressure from consumer nations for Year Increase in oil cartel OPEC&&9;s output quota, caretaker oil minister icts said on Sunday.
"In accordance with the Supply and Demand situation, Iran&&9;s OPEC Will opposes raising oil production quota ceiling at the next meeting (on December 14)," Mohammad Aliabadi Told the Mehr news agency.
At Their last meeting on June 9, OPEC Ministers Decided to keep official output at 24.84 million barrels Levels per day (mbpd), Where Have Stood THEY Since January 2009.
The International Energy Agency (IEA), Which Represents industrialised nations, then on Thursday Announced That It Would release 60 million barrels of oil from Strategic ITS reserves over the next month.
The move sparked a massive sell-off, with Oil Prices dropping more than $ 8 in London and Nearly $ 6 in New York.
Aliabadi Said "stabilising OPEC oil production quota&&9;s Could Possibly lead to stable oil prices 100% free credit score."
He charged Iran&&9;s OPEC That rivals Saudi Arabia Seeking to raise output WAS levels "at America&&9;s request."
"OPEC IS NOT Seeking to Raise Oil Prices," the minister insisted.
"By Lowering oil prices ... America IS Seeking to affect the next presidential election, &&9;he charged.
OPEC&&9;s number two exported after Saudi Arabia, Iran Is the current holder of the cartel&&9;s rotating presidency.
Aliabadi&&9;s remarks a day after cam Iran&&9;s OPEC representative Mohammad Ali Khatibi Accused the U.S. and Its European allies of forcing an "artificial" oil price slump on the market.
Iran opposed to OPEC to Maintain Quota Increase