Oil producers slam output hike plan

Monday March 06 by Claudia bourneMSNBC News
Hopes for lower oil and gasoline prices took a blow Monday as Iran, Libya and Algeria said OPEC could maintain output restrictions because world demand would fall by over 3 million barrels per day in the second quarter. Taking a shot at the U.S., Iranian Oil Minister Bijan Zanganeh said there was no reason for oil nations to raise output in the second quarter, blaming high prices on U.S. political pressure on producers.





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