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A struggling global economy is expected to keep oil demand growth relatively slow, the Iranian governor to OPEC said.
Iranian oil production figures indicate the country is still near the top among members of the Organization of Petroleum Exporting Countries, an official said.
Changing from crude oil sales to oil products is a "very valuable" asset for the Iranian government, the director of international affairs at the NIOC said.
Iranian oil industry official Mohammad Ali Khatibi said hard times and over-production by three oil cartel members were responsible for falling oil prices.
With Libyan oil expected back on the market after the war, members of OPEC should consider making appropriate adjustments, an Iranian official said.
Iran, preparing to preside over a Vienna meeting focusing on OPEC-EU energy policies, slammed a move by the West to release oil reserves over the weekend.
Crude oil reserves in Iran increased more than 9 percent to 150 billion barrels, the Iranian governor to OPEC said.
Tehran believes $100 per barrel of crude oil is a fair price as modest improvements in the global economy push prices closer to $80, officials said.
Iranian officials denied they would cut crude oil exports as retaliation for expanded economic sanctions on the Islamic republic
The new Iranian oil minister will bring his expertise in international trade to the next regular meeting for OPEC, Iran's governor to the oil cartel said.
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United Press International
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