DUBAI-Kuwait’s deputy foreign minister Khaled Jarallah called for a freeze in oil production, and said Iran must learn from the market, noting that there is no space to support further increase, state agency news Kuna reported on Saturday.
Jarallah’s statements came while the latter along with acting oil minister Anas al-Saleh were attending a Kuwait-Japan business seminar in Tokyo.
“There is no choice but to freeze production,” KUNA quoted Jarallah as telling Japanese news agency Jiji press.
“Iran should learn from the market … the market does not give an opportunity to increase production” said Jarallah, when asked about Iranian production policy.
OPEC members and other oil exporters failed in a meeting in the Qatari capital Doha on April 17 to reach an agreement on freezing their output to rebalance the global oil market.
Iran, seeking to regain market share after international sanctions on Tehran were lifted last year, had refused to join the supply freeze initiative and the deal fell apart after Saudi Arabia insisted Tehran take part.