IRAN

Iran Rejects 17.6mn b/d OPEC Ceiling 

Iran has - predictably - rejected the 17.6mn b/d average production ceiling for 1986 agreed on by the ten-member OPEC majority at the Brioni conference (MEES, 7 July). The official Iranian news agency IRNA on 8 July quoted an unidentified Oil Ministry official as saying that "Iran has repeatedly stated that any increase in OPEC's production will not improve the position of the Organization in the market and will result in lower...