OPEC Pumping at Full Capacity – Minister

OPEC is pumping at full capacity, Iran’s oil minister said on Saturday but added that any move by the cartel to legitimise its over-production would not affect the market.

“OPEC members are supplying world markets with their utmost capacity,” Bijan Zanganeh was quoted as saying on the oil ministry Web site.

“But legitimising the extra output from these countries will not have any affect on market conditions,” he added.
Reuters