Iran's envoy to the Organization of Petroleum
Exporting Countries (OPEC) reiterated that there is no need for the group to change its oil output, the English language satellite Press TV reported Sunday.
"Considering the current supply and demand situation in the oil market, it is likely that
OPEC would maintain the quota at a forthcoming meeting in December, should conditions be met," Iran's OPEC governor Mohammad-Ali Khatibi was quoted as saying.
The oil market outlook for the next six months shows there would not be a considerable increase in the crude demand, said Khatibi on Saturday.
"Considering this situation, an increase in the OPEC oil quota will create pressure on oil prices in the global market," he added.
Earlier in October, Khatibi had said that though there are certain positive signs of economic recovery in the world, there is no need for OPEC to increase its production at present.
OPEC members in their forthcoming meeting on Dec. 22 in Angola will determine the organization's total output for the first six months of 2010.
The oil prices dropped to six-week lows below 75 U.S. dollars per barrel on Friday as
world financial markets were rattled by Dubai debt crisis.