Iran condemned on Saturday a decision by oil consumer nations to release strategic crude stocks as politically motivated interference in the market that would not have a sustained impact on prices.
The 12-nation Organization of the Petroleum Exporting Countries (OPEC) -- which pumps 30 percent of global oil supplies -- opted earlier this month to maintain its output levels.
"The measure by the International Energy Agency in consuming their oil stockpile is meddling in the natural oil market trend and the drop in oil prices will not be sustainable," Iran's OPEC governor Mohammad Ali Khatibi was quoted as saying by the Oil Ministry Website SHANA.
Saturday, June 25, 2011
Iran condemns IEA decision to release oil stocks
