OPEC rejects the regimes petition to decrease of oil production

Iran Press News: Translation by Banafsheh Zand-Bonazzzi.

The International Energy Agency which is based in Paris announced that OPEC member nations rejected the Islamic regimes petition to decrease oil production. Tehran’s regime called for OPEC, whose next session has been, scheduled for January 31st, to cutback its production by a million barrels per day. Simultaneously, the U.S. Secretary of Energy, Samuel Bodman has asked OPEC to consider making up for the shortage of oil in world markets in case oil sanctions are put on the Islamic Republic of Iran. In their next session, OPEC member nations will be discussing and deciding on their policy for the coming months. READ MORE

Hussein Kazempour-Ardebili, the regimes representative at OPEC said: "The subject of cutback of production should not be put off."

According to the International Energy Agency however, the OPEC countries have refused to consider the Islamic regimes petition; Algeria and Venezuela have clearly opposed the petition and Nigeria and Indonesia have indicated that they will also reject Tehran’s demand.