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OPEC headquarters, Vienna

 Mr. Rodriguez told reporters in Vienna Wednesday that he had been officially informed by Iran and Libya that they will not join Iraq in suspending oil exports. Both Iran and Libya had earlier shown interest in using oil as a weapon to pressure Israel to end its assault into Palestinian territories.

 Mr. Rodriguez said a recent surge in oil prices was based largely on speculation resulting from the crisis in the Middle East. He said any increase in output would be premature and could cause prices to collapse when current tensions in the market subside.

 Iraq announced Monday it was suspending oil exports, about two million barrels per day, for 30 days. An OPEC official says the organization remains opposed to using oil as a political weapon.
 
 

Some information for this report provided by AP and AFP.

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