TEHRAN Member of Iranian delegation to the Organization of Petroleum Exporting Countries (OPEC) Hossein Kazempour Ardebili said on Thursday Iran is fully committed to OPEC's production cut. In an interview with IRNA over the report carried by the Middle East Economic Survey (MEES) on Iranian crude oil production in April, Kazempour said the OPEC meeting in Jakarta last year raised Iran's quota to 3.942 million barrels per day (bpd) from 3.6 bpd from January 1 and Iran gradually increased production so it reached the quota level coincident with the OPEC's emergency meeting in Vienna at the end of March. But Iran cut its production by 140,000 barrels per day (bpd) so that Iranian production in April stood at 3.781 bpd.

Iran is committed to the OPEC decision taken in late March to cut production and formally announces that it would observe the production cut by 140,000 bpd to help increase the market prices, Kazempour said. Kazempour Ardebili who is advisor to the oil minister said Iran makes every cooperation with the OPEC with honoring the quota. (IRNA)