Iran asks Opec states not to raise oil output

Iran has asked Opec members not to raise oil production to compensate for a European Union embargo against the Islamic republic, Oil Minister Rostam Qasemi said on Saturday. Qasemi said the request was forwarded in a letter to Iraq, the current head of the Organisation of Petroleum Exporting Countries.
The European Union, which imports about 20 percent of Iran''''s oil exports, adopted an oil embargo against Tehran on January 23 that would gradually cut purchases of crude from the country during the next five months. The measure was the latest effort by Western countries to curtail Iran''''s nuclear programme. "We have asked the current head of Opec to tell members to respect the interests of other members and the rules of co-operation" within the oil cartel, Qasemi told a news conference.