Monday 27 October 2014

Iran says OPEC unlikely to reduce output ceiling in Nov

Oct 27 (Reuters) - OPEC is unlikely to reduce its production ceiling when the group meets in November, Iran's oil ministry news agency Shana cited Mohsen Qamsari, director for international affairs of National Iranian Oil Company, as saying on Monday.

OPEC meets on Nov. 27 to decide on its output policy amid calls by some members of the producing group to cut output to support oil prices which have lost quarter of their value since June. Brent was trading below $85 a barrel on Monday. (Reporting by Rania El Gamal, editing by David Evans)




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