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Iran backs OPEC moves to bolster oil prices.
(From AFX Europe (Focus))
TEHRAN (AFX) - Iran said Sunday it will support any OPEC moves to "solidify" the oil market and bolster plunging crude prices amid unilateral cuts by members and calls for an output quota reduction by the cartel.
"The Islamic republic of Iran will support any effort by OPEC members to solidify the oil market and return prices to an acceptable and logical level," Iran's representative to OPEC, Hossein Kazempour Ardebili, told the state IRNA news agency.
"An acceptable level of prices is a level which the Islamic republic of Iran, in collaboration with other OPEC members, can support," he added.
His comments came days after OPEC members Nigeria and Venezuela ...
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