Iran to oppose proposal to raise OPEC crude output
Tehran, June 20 : Iran will not accept Saudi Arabia's proposal to increase crude output of Organization of the Petroleum Exporting Countries (OPEC), Iran's representative to the OPEC was quoted as saying on Tuesday.
Iran, along with Venezuela and Iraq, is going to veto the Saudi Arabia's proposal at the June 22 OPEC meeting in Vienna, Hossein Kazempour Ardebili was quoted by Tehran Times daily as saying.
"If Russia also increases its production, that would be a breach of the cooperation agreement," Ardebili said, reports Xinhua.
OPEC members will discuss at the meet the proposal by Saudi Arabia to end the OPEC/ non-OPEC deal to balance the oil market and increase the oil price.
Last year, OPEC members unanimously agreed on the oil price of USD 60 dollars per barrel, by cutting oil output by 1.2 million barrels per day (bpd) to 32.5 million bpd.
Non-OPEC members including Russia, Oman and Mexico also agreed to cut 558,000 bpd off their production to stabilise the market.
Meanwhile, oil prices ended lower on Tuesday as investors awaited the upcoming OPEC meeting.
The West Texas Intermediate for July delivery fell USD 0.78 to settle at USD 65.07 a barrel on the New York Mercantile Exchange, while Brent crude for August delivery was down USD 0.26 to close at USD 75.08 a barrel on the London ICE Futures Exchange.
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Railways created world record in derailments: Mamata Banerjee
Kolkata, Sep 24: West Bengal Chief Minister Mamata Banerjee on Tuesday mocked the Indian Railways, asserting that it has created a “world record” in derailments.
Banerjee’s comments came hours after a few wagons of an empty goods train jumped tracks in the state’s Jalpaiguri district.
"What is happening with the Railways? Even today, there is the news of derailment. The Railways has created a world record in derailments. But, nobody says anything?" she told reporters after an administrative review meeting in Birbhum.
"People's safety and security is in danger, and they are scared of travelling in trains. Where is the railway minister? Only asking for votes during elections will not help, you have to be by the side of people when they are in danger," Banerjee said.
Five wagons of an empty goods train derailed at New Maynaguri railway station in Jalpaiguri district on Tuesday morning.
No injuries were reported in the incident that occurred around 6.20 am, officials said.
Banerjee, who had served as railway minister twice, claimed that she had run the department smoothly and allocated several projects for West Bengal.
"As the railway minister, I had sanctioned projects worth Rs 2 lakh crore for Bengal," the CM said.
The Railways, in a recent report, had mentioned there were 18 attempts to derail trains across the country since August.
