IRANIAN OIL MINISTER ANNOUNCES HIS COUNTRY’S SUPPORT TO REDUCE OPEC PRODUCTION, IF MAJORITY OF MEMBERS AGREE

Reuters reported that the news website of the Iranian Ministry of Energy quoted Oil Minister Bijan Namdar Zangeneh as saying that his country supports greater reductions in crude production by the Organization of Petroleum Exporting Countries (OPEC), if the majority of members agree to this.

A technical committee that advises OPEC and its allies led by Russia, a group known as OPEC +, had proposed last Thursday an additional temporary drop in oil production at 600,000 bpd.

Source: National News Agency