Price drop to damage security of supplying oil: Iran’s representative

TEHRAN,  (ISNA)-Iran’s OPEC governor Mohammad Ali Khatibi warned oil price drop will damage security of supplying oil.

The rise in OPEC outputs over recent months has crippled the organization to produce oil surplus and made experts worried about any unexpected stop in production.

OPEC members have been increasing outputs during recent three months helping oil price falls by 30 dollars, he told Reuters.

Crude prices reached an all-time peak of 147 dollars earlier last month.

According to the Iranian official those consuming countries benefiting oil drop should be aware that the situation will be fully changed by a break in crude production.