• HSBC

Iran says some Opec members pumping above quota

  • Iran: Thursday, November 27 - 2008 at 08:58

Iran's Opec governor on Wednesday accused some members of the organisation of producing more crude oil than their quotas, Reuters has reported, citing the Mehr news agency. He also said Opec needed to have a fresh output cut to stabilise the market. Opec ministers next gather in Cairo on November 29 but that meeting has been called a consultative session with its next policy-setting meeting scheduled for December 17 in Algeria.

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