Iran's acting oil minister said Monday he's convinced there are ample supplies of crude on world markets, joining Kuwait and Libya in signaling that the Organization of Petroleum Exporting Countries (OPEC) will maintain its current output targets at this week's meeting. Arriving in Vienna on the eve of an OPEC meeting, Gholam Hossein Nozari suggested the 12-nation cartel felt little pressure to loosen its taps. With the summer driving season over, and demand for gasoline and diesel fuel slackening, OPEC was almost certain to maintain its official output quota of 25.8 million barrels a day, the Associated Press reported. «There is enough crude in the market,» Nozari, former head of the state-owned National Iranian Oil Co., told reporters. --MORE
