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Iran says OPEC will not boost output

Reuters
Posted online: Saturday , May 17, 2008 at 13:26 hrs
Updated On: Saturday , May 17, 2008 at 14:54 hrs


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blame the high price on factors beyond their control, such as speculation and the weak dollar.

Prices rose early this week after President Mahmoud Ahmadinejad was quoted as saying Iran was reviewing a proposal to reduce its output, which hit 4.203 million barrels per day in March, the highest level since its 1979 Islamic revolution.

But Nozari said Iran did not want its production to be lower than its OPEC share....

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