TEHRAN, March 16 (UPI) -- Iran sees no need to increase the production ceiling at the next regular meeting of the Organization of the Petroleum Exporting Countries, ministers said.
OPEC members meeting Wednesday in Vienna will discuss production levels in what appears to be a stable market for crude oil.
Iranian Oil Minister Masoud Mir Kazemi said there was no need to adjust OPEC output because of market conditions.
"It is expected the OPEC production remains unchanged in the coming gathering, because evidence shows that the market situation has not changed considerably," he was quoted in the Iranian Oil Ministry's Petroenergy Information Network as saying.
OPEC member Iran has lobbied for production cuts in the past to boost crude oil prices. OPEC curbed production in 2008 as oil plummeted to less than $50 per barrel on the dawn of the global economic recession, but has since left quotas in place.
Kazemi added that Iran was operating below the OPEC production threshold of 4.2 million barrels per day.
On the decision by global petrol suppliers to stop dealing with Iran, Kazemi said his country was able to cope with pressure "successfully."
