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Iran says reviewing oil output, no decision yet

Iran is reviewing its crude output but no decision has been taken yet on any changes, Oil Minister Gholamhossein Nozari was quoted by an aide as saying on Tuesday.

The semi-official Fars News Agency earlier quoted an informed source as saying the world’s fourth-largest oil producer would start cutting crude output next month, probably by 400,000 to 1 million barrels per day. “The oil minister said that Iran is reviewing its crude output but reports on any decision are not correct,” an official at the Oil Ministry’s public relations office said when asked about the report. “No decision has been taken yet,” he quoted the minister as saying. (Reuters)