OPEC decision needs to help market stability: Iran’s envoy

TEHRAN, (ISNA)-Iran’s OPEC governor Mohammad Ali Khatibi said on Monday that any OPEC decision in September meeting should help market stability.

All OPEC are producing crude oil some 32 million barrels per day but they will secure markets stability if they reduce outputs, he said.

According to the Iranian official if the current oil production process continues, OPEC will have one million barrels additional a day breaking prices, but if the course be ended extra demands will be curbed and markets will be secured.

Iran as the fourth largest oil exporter in the world and the second in output among OPEC members has reached outputs over 4 million barrels a day.