Iran oil minister not ruling out hike in output

TEHRAN (AFP) – Iran’s oil minister said Saturday that OPEC’s number two exporter has not ruled out an increase in output in the face of soaring prices.

“We are studying it and will give our opinion,” Gholam Hossein Nozari told reporters at his weekly press briefing when questioned whether Iran would consider increasing its crude output.


“We believe there is enough oil in the market but if statistics and data show there is a need to produce more we are capable of meeting the demand,” he said.

He added that any hike in oil output “should be in final agreement with other members” of the 13-member cartel.

AFP