TEHRAN (AFP) - Iran, OPEC's number two oil producer, favours a cut in crude production of 1.0 to 1.5 million barrels per day when the oil cartel meets in Cairo later this month, state television reported on Saturday. "It is best that at the urgent meeting in Cairo a decision be made for another decrease of one million to 1.5 million barrels per day," Iran's OPEC representative Mohammad Ali Khatibi was quoted as saying on the broadcaster's website. "Thus, a balance between supply and demand is reached," Khatibi said, adding that the extent of any potential cutbacks would depend on whether the global financial crisis deepened or not. Khatibi warned against oversupply and said that the members violating the cartel's set quotas would push down prices. "OPEC countries should know that they must remain committed to their obligations, otherwise prices will fall even further," he said. "The downward trend of oil prices and an increase in the stockpiles of large industrial countries indicate an oversupply." "In their latest comments, OPEC members have favoured an oil price of between 70 dollars and 100 dollars a barrel," Khatibi said in an interview broadcast later on state television. "Prices below these figures will trouble oil investment and the production cycle of these countries," he added. Khatibi also called on non-OPEC oil-producing countries to join the cartel's bid to help the market. "We need non-OPEC members to cooperate with OPEC... and decrease their production somewhat. If they raise production, it merely counteracts the OPEC measure," he said.