OPEC unlikely to raise output ceiling in March: Iran

OPEC is unlikely to raise its output ceiling at its next meeting in March, a senior Iranian oil official said on Saturday.

"It seems unlikely that OPEC members would make any decision towards an increase in the organisation's output ceiling in their next meeting," Iran's OPEC governor Mohammad Ali Khatibi was quoted as saying on state news agency IRNA. 

"If they should decide to do so in consideration of market developments, Iran will be able to raise its production as per the quota assigned to it."

He said Iran is currently producing below its real capacity in compliance with OPEC decisions. Iran's production capacity is 4.3 million bpd.