Speaking to reporters prior to the OPEC technical ministerial committee in Vienna on Thursday to review compliance with the OPEC-non-OPEC output cut agreement, the official said: “There are no signs of a supply shortage in the market.”

Asked whether Iran had endorsed a proposal to jack up its crude output, Mr. Zangeneh said: “I have not approved of anything; Iran does not agree with an oil production increase at the upcoming 174^th OPEC meeting.”