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Iranian Lawmaker predicts higher quota for Iran in OPEC

Iran would be able to raise its OPEC quota in the coming years upon successful implementation of certain output-boosting projects in the coming years, said a lawmaker in Tehran on Sunday, IRNA reported.

Member of the Majlis Energy Commission and MP from the western city of Ilam Ali Yari told IRNA that Iran's OPEC quota was currently a little above 3.5 million barrels a day from more than six million barrels a day before the 1979 Islamic Revolution.

Yari said that the price for each barrel of crude is expected to be pegged at dlrs 19 in the budget for the next Iranian fiscal year (to start on March 20) on the basis of this year's prices and taking into account the falling demand on global markets.

The lawmaker however maintained with reservation that the targeted price may be times lower in case of an increase in Iraq's crude production.

He stressed growth in the oil and gas production to affect global markets and meet other countries' energy demand.

... Payvand News - 1/25/04 ... --

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