OPEC member states should cut crude output to boost prices to a range of $70 to $80 a barrel, Iran’s Oil Minister Bijan Namdar Zanganeh said. “No one is happy” with prices at current levels, Zanganeh told reporters in Tehran. “OPEC should decide to manage the market by reducing the level of production.” Even so, Zanganeh said he doesn’t expect the Organization of Petroleum Exporting Countries to decide to reduce output when its ministers meet next in December. OPEC has produced more than its official target of 30 million barrels a day for 16 consecutive months as the group seeks to defend sales amid a global supply glut. Brent crude, a global benchmark, has slumped 41 percent in the last 12 months and was at $50.20 a barrel in London at 8:31 a.m. local time. OPEC plans to assess output when oil ministers from its 12 members meet Dec. […]