OPEC

Gharazi Says Production Cuts Not Enough 

According to Iranian Oil Minister Mohammad Gharazi, both Iran and Algeria feel that OPEC did not go far enough in cutting production quotas in Geneva last month. Mr. Gharazi told a press conference in Tehran on 3 November that the two countries believed the previous 17.5mn b/d production ceiling should have been cut by 2.5-3mn b/d rather than the 1.5mn b/d actually agreed on. However, he added that OPEC was prepared to remove a further...