1. https://www.iro-molecular-sieve.com/ -- Iran's Oil Preacher, Gholam-Hossein Nozari, said here on Sunday that Iran would certainly recommend the Company of the Petroleum Exporting Countries (OPEC) to cut result by 1.5 to 2 million barrels per day (bpd), Iran's official IRNA news firm reported.
2.  " Our position in the upcoming conference in Algeria is to call for1.5 to 2 million bpd cut in OPEC's result," Nozari stated, adding that "Just by doing this, we will have the ability to keep the equilibrium between supply and also demand."
3.  " Otherwise, the OPEC would certainly face a surplus in oil supply which would certainly cause even more autumn in the cost following summertime," Nozari was quoted as stating.
4.  The proposition, according to him, is to be made during the OPEC upcoming meeting scheduled to take place in Oran, Algeria, on Dec. 17.
5.  Nozari claimed a failure to cut result at the Oran top would result in a major oversupply of oil in the first and also 2nd quarters of 2009, according to Iran's satellite Press TELEVISION.
6.  " This will certainly cause oil rates to proceed their decline next year," he said.
7.  Iran's representative to OPEC, Mohammad Ali Khatibi, said on Saturday that his nation expects a difficult year in the global oil market.
8.  " The oil market will see tough time following year before the marketplace re-stabilizes," Press TV estimated Khatibi as claiming.
9.  " The demand for oil will certainly be very reduced in 2009," he stated.
10.  He demanded OPEC members make right choices as well as look for an agreement in the honest ministerial meeting in the northwestern Algerian community of Oran.
11.  The global oil market was oversupplied by 2 bpd, Iran's Oil Minister Gholam Hossein Nozari stated previously last month, after OPEC postponed a choice on a brand-new result cut.
12.  OPEC, which supplies concerning 40 percent of the global oil, believes oil demand would certainly be impacted considerably amid problems of world financial recession in the first fifty percent of next year.
13.  In current months, the oil costs have gone down sharply from 147 UNITED STATE bucks in July to just over 40 U.S. dollars a barrel.
14.  OPEC has actually reduced its oil result by 1.5 million bpd in October as well as is expected to reduce even more at the upcoming Algeria conference.
15.  Saudi Oil Minister Ali Naimi stated previously that his nation wished to raise oil prices to 75 UNITED STATE dollars a barrel, which was a "reasonable price."
16.