Speaking in Vienna on Tuesday, the official said: “I would not second any production increase because we are not experiencing any imbalance in the market. We were not supposed to discuss this matter in this meeting; it would mean green light to US actions.”
“I believe that not
even 500,000 barrels should be added to OPEC's crude oil output. We were even
supposed to decrease production by 2 million barrels but now we have 3 million
barrels of production fall,” he said.
Zangeneh also added: “If OPEC members supply a million barrels to the market, there would be no problem and no production increase would be needed. Of course, I am not talking about non-OPEC producers. I am talking about OPEC and its decisions.”
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