TEHRAN (AFP) Iran will continue to oppose pressure from consumer nations for an increase in oil cartel OPECs output quota, its caretaker oil minister said on Sunday. In accordance with the supply and demand situation, Iran will oppose raising OPECs oil production quota ceiling at the next meeting (on December 14), Mohammad Aliabadi told the Mehr news agency. At their last meeting on June 9, OPEC ministers decided to keep official output levels at 24.84 million barrels per day (mbpd), where they have stood since January 2009. The International Energy Agency (IEA), which represents industrialised nations, then announced on Thursday that it would release 60 million barrels of oil from its strategic reserves over the next month. The move sparked a massive sell-off, with oil prices dropping more than $8 in London and nearly $6 in New York. Aliabadi said stabilising OPECs oil production quota could possibly lead to stable oil prices. He charged that Irans OPEC rival Saudi Arabia was seeking to raise output levels at Americas request. OPEC is not seeking to raise oil prices, the minister insisted. By lowering oil prices... America is seeking to affect the next presidential election, he charged. OPECs number two exporter after Saudi Arabia, Iran is the current holder of the cartels rotating presidency. Aliabadis remarks came a day after Irans OPEC representative Mohammad Ali Khatibi accused the US and its European allies of forcing an artificial oil price slump on the market.