The Organisation of the Petroleum Exporting Countries (OPEC) is unlikely to implement a production cut at its next meeting in June, a senior Iranian official said on Monday. Iran, along with Venezuela, has repeatedly called for OPEC to cut output to shore up low prices that have eaten into producers’ oil revenues. Javadi’s comments signal an admission that the group was unlikely to agree to a reduction, especially after its current strategy has succeeded in curbing non-OPEC output and allowed OPEC to regain market share.