Tehran will not cut production under OPEC prior to the lifting of sanctions

11:48 - 6.12.2018


December 6, Fineko/abc.az. Iran, under US sanctions, will not participate in the coordinated production cuts within OPEC format+.

This was stated by Iranian oil Minister Bizhan Namdar Zanganeh, who arrived in Vienna to participate in the OPEC Ministerial conference.

"We should be excluded from any decisions on production reduction quotas in the future until the sanctions are lifted," he said.

Zanganeh did not name the level of production, as, according to him, this may cause pressure on Iran from the United States. "If the US wants to put pressure on Iran through OPEC, this is unprofessional behavior, and I have to say that OPEC is not part of the US Department of energy to get instructions from the US on how and what to do," he said.

In Vienna, a meeting of the monitoring Committee, which recommended members of the Alliance to reduce production in the first half of 2019. Roughly we are talking about reducing production by 1 million barrels per day. On Thursday, this recommendation will be considered by OPEC Ministers, on Friday-non-OPEC countries.

Earlier it was reported that OPEC+ Ministers agreed with the need to reduce oil production.

 

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