OPEC unlikely to cut without non-OPEC: senior delegate
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The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, August 21, 2015. REUTERS/Heinz-Peter Bader
VIENNA (Reuters) - OPEC is unlikely to cut production at its meeting this week given that non-OPEC producers are not cutting supply, a senior OPEC delegate, who asked not to be named, said on Wednesday.
He also said a likely increase in Iraqi and Iranian production is also one of the reasons why OPEC is unlikely to cut output.
"If OPEC cuts production and Iran raises its production then you didn't achieve anything," the senior delegate said.
He added that OPEC would likely welcome back Indonesia as a rejoining member at its meeting on Friday but would postpone a decision about raising OPEC's overall production ceiling to accommodate Indonesia's volumes until next year.
(Reporting by OPEC Newsroom; Editing by Michael Urquhart)
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