Iran: OPEC to Consider All Market Factors

TEHRAN (FNA)- Iran’s oil minister said on Tuesday OPEC would consider all factors that affect the market at its meeting on Wednesday, but would not be drawn on whether he supported no output change.“We will consider all the factors that influence the market … then we will discuss and make a decision,” Iranian Oil Minister Gholam Hossein Nozari told reporters when asked whether he backed keeping supplies steady.

“Usually OPEC in March reduces production …. We will review the market and then we will decide,” he told reporters after he arrived in Vienna.

Before leaving Tehran, he told reporters he would support a cut in OPEC production because there was enough oil in the market.