IRAN WILL INCREASE
Iran on Wednesday snubbed a proposal agreed to by four influential oil producers to cap their crude output if others do the same, with a senior Oil Ministry official saying Tehran has no intention of freezing oil output levels.
Mahdi Asali, Iran's OPEC envoy, said his country will in fact keep increasing its crude exports until it reaches levels attained before international sanctions were imposed on Tehran over its nuclear program.
Asali's comments came as Iran's oil minister held a four-way, closed-door talks in Tehran with his counterparts from Iraq, Venezuela and Qatar.
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