Iran says OPEC to consider oil rationing

Iran's Oil Minister Gholam Hossein Nozari attends the opening ceremony of the Jeddah Energy Meeting June 22, 2008. (Chinese media/Reuters filePhoto)
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TEHRAN, Aug. 2 (Chinese media) -- Iranian Oil Minister

Gholam Hussein Nozari has revealed that the Organization of Petroleum Exporting

Countries (OPEC) will seriously consider rationing its oil production, the

semi-official FARS news agency reported.

"I think OPEC will be serious about this issue" in

case of continuous decline of crude oil prices and lack of oil output control by

some OPEC members which keep high level oil production, Nozari was quoted as

saying.

"Those members who have increased their production

should control it," Nozari said, referring to the remarks made by some oil

ministers of OPEC member states about the probability of reducing the production

level of the oil.

"we have the responsibility to control the market and

to be serious about the rations," he said.

Crude oil prices slid again on Friday, as weak

economic growth data of the United States reignited concerns about slowing

demand in world's biggest energy consuming nation.

Concerns over the health of the U.S. economy -- a

major buyer of global energy exports -- have pushed crude oil prices down by

about 25 dollars since reaching record peaks above 147 dollars on July 11.

OPEC president says not to raise oil output



JAKARTA, July 29 (Chinese media) -- The Organization of

Petroleum Exporting Countries (OPEC) President Chakib Khelil said here Tuesday

the oil cartel will not increase its oil output even in the next winter.

Speaking to the press after presenting his paper before

Indonesian energy stakeholders, he said OPEC is currently having an

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