Nozari leaves Iran for Austria to take part in OPEC meeting

TEHRAN, May 26 (MNA) – Iranian Oil Minister Gholam-Hossein Nozari left Tehran for Vienna on Tuesday to participate in OPEC’s 153rd extraordinary meeting.

Oil ministers of the Organization of the Petroleum Exporting Countries will meet on May 28 in Vienna, SHANA reported.


Previously, OPEC has agreed to reduce output by 4.2 million barrels per day (bpd) compared with production in September 2008 and many analysts say it has delivered more than 80 percent of that cut. Another cut is seen as unlikely, as officials have said they would not want to see prices rise too quickly.


At their March meeting, the member countries deferred another production cut for at least 11 weeks and resolved to enforce production quotas.





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