No OPEC plan to up oil supply, no shortage: Iran
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Iran Oil Minister Kazem Vaziri-Hamaneh said on Monday there is no shortage of crude oil in the market and OPEC has no plans to increase supplies.
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Oil prices rose Tuesday as Iran dashed hopes of a breakthrough in talks with the European Union about its nuclear program.
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International oil markets have enough oil, but a lack of capacity to refine it was contributing to high prices, OPEC's president said on Sunday.
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OPEC dismissed further calls to boost oil output from top consumer the United States, saying the global market is well supplied and the producer group has little control over oil prices near $90 a barrel.
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International oil markets have enough oil, but a lack of capacity to refine it was contributing to high prices, OPEC's president told reporters on Sunday.
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Iran on Saturday reiterated its call for  OPEC to pull supply back down to official quota levels and  mapped out a way to fund a long-promised production hike, a  newspaper reported.
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Iran's Supreme Leader Ayatollah Ali   Khamenei said on Monday Iran would press ahead with its pursuit   of nuclear energy, indicating it will not heed a U.N. demand it   stop enriching uranium or face possible sanctions.
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OPEC President Purnomo Yusgiantoro said on Friday he was concerned with the continuing rise in global oil prices, but the cartel had not yet seen a cost-driven increase in inflation.
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Iran said yesterday it would not abandon uranium enrichment, rejecting a key demand by three European powers which have threatened to intensify pressure if Tehran does not curb its nuclear program.
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OPEC is capable of increasing oil output levels by a further 1.5 million barrels per day to help ease pressure on the market but new supplies may not lower prices, the organisation&#39;s president says.
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OPEC agreed here on Friday to leave unchanged its oil production target, Nigeria's energy chief told reporters, snubbing US calls for an increase to cool prices.
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OPEC President Purnomo Yusgiantoro said on Thursday that OPEC should continue to produce above its official ceiling rather than tighten output to support prices.
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Iran will not beg world powers for its right to develop nuclear technology and has shown it will not retreat from the "field of danger" to protect such rights, Supreme Leader Ayatollah Ali Khamenei said on Monday.
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WARSAW/DOHA  - Saudi Arabia and other OPEC members said on Wednesday they are not to blame for near-record oil prices, pointing the finger at a global shortage of refinery capacity and international political tension.
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OPEC, which pumps more than a third of the world&#39;s oil, is considering raising its oil-output targets at a meeting this week in Vienna, although that wouldn&#39;t necessarily mean more oil production, the Wall Street Journal
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LONDON/SINGAPORE  - Oil prices edged higher on   Thursday as Iran looked set to defy the United Nations'   deadline for halting nuclear enrichment, raising the risk of   sanctions against the world's fourth-biggest crude exporter.
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OPEC decided Monday to leave its current production targets unchanged, two key oil ministers said, opting not to tighten its taps despite crude prices that have fallen to five-month lows.