OPEC AND OIL PRICES

Iranian Oil Minister Cites Iraq and Venezuela as Main Obstacles to OPEC Agreement

Iran's Oil Minister, Mr. Gholamreza Aghazadeh, has cited Iraq and Venezuela as the main obstacles which prevented OPEC agreement on a reduced production ceiling and lower output quotas at the Geneva conference last week. Speaking at a press conference in Tehran on 26 March after his return from Geneva, Mr. Aghazadeh said that OPEC's Geneva meeting had generally accepted the...