Iran opposes production rise

Iran is against an increase in Opec production, an official was quoted as saying Tuesday, arguing that the cartel did not have the capacity to do so.
"Opec is unable to raise production," an oil ministry source was quoted a saying in national media, sticking with Iran's view that markets were being well supplied.
The comment came as world oil prices hit record peaks above 72 dollars a barrel in London and close to 71 dollars in New York as the market fretted over possible military conflict between the United States and Iran.
Iran is the world's fourth and Opec's second crude producer, with a production level of around four million barrels a day.