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OPEC will not increase output-Iran oil minister

Sat May 17, 2008 10:25am IST
 
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TEHRAN, May 17 (Reuters) - OPEC will not boost oil output as such a move would increase reserves, Iran's oil minister said on Saturday, despite pressure from the United States and other consumer nations.

"No, because I think a hike in output will add to an increase in reserves," Oil Minister Gholamhossein Nozari told reporters when asked whether the cartel would increase production as requested by the United States. (Reporting by Hashem Kalantari and Zahra Hosseinian; Writing by Fredrik Dahl; Editing by Anshuman Daga)

 
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