World Bulletin / News Desk
OPEC should change course and cut oil supply by 800,000 barrels per day (bpd) or more to prevent an expected return of Iranian exports from weighing on prices, Libya's OPEC governor said.
The comments underline how the halving of oil prices from $115 a barrel in June on global oversupply is hurting OPEC's less wealthy members outside the Gulf and suggests the 12-nation group remains divided over the impact of its 2014 policy shift to defend market share, not prices.
They "need to reach an agreement to bring down the production levels by at least 800,000 barrels a day, especially now that an agreement has been reached with Iran which is expected to increase its production", he said.
Güncelleme Tarihi: 08 Nisan 2015, 15:48