Iran: OPEC must rein in overproduction

TEHRAN, Iran (AP) -- Iran's official news agency has quoted Oil Minister Gholam Hossein Nozari as urging OPEC to curtail oil overproduction when it meets in Vienna next week.

Nozari said Tuesday some members of the cartel are producing more crude oil than their assigned quota and this should be addressed at the Sept. 9 meeting.

Iran has repeatedly opposed any increase in OPEC crude production and has even called for reducing output despite high prices.

Iran is OPEC's second largest oil producer and is estimated to be No. 2 in the world in natural gas reserves.

Oil prices have been pushed higher all year, partly due to the standoff between the West and Iran over its disputed nuclear program.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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