The Iranian oil minister said in comments published today that the market was sufficiently supplied with crude and he saw no need for Opec to raise production.
Gholamhossein Nozari's comments come before Opec meets in Vienna on Friday to discuss output policy, with oil prices around $10 below this year's record high above $100 a barrel.
Iran has repeatedly said the market had adequate crude supplies and has blamed the price surge on other factors such as tensions in the Middle East and speculation.
