The Iranian Minister did not support the decision to increase oil production within OPEC+

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Иранский министр не поддержит решение увеличить добычу нефти в рамках ОПЕК+

The Minister of oil of Iran Bijan Zanganeh did not support the decision even of a slight increase in oil production in the framework of easing transactions for the reduction of oil production (OPEC+), as I am sure that oil prices remain high because of the US President Donald trump.

Asked by journalists whether the support of Iran to a possible decision of the OPEC countries+ of a slight increase in oil production, Zanganeh said “I don’t want and do not support the increase because I believe that high oil prices remain high due to trump, because high prices provide support to shale extraction in the USA.

OPEC and several non-organisation countries (OPEC+) agreed in late 2016 in Vienna on the reduction of its oil production to total 1.8 million barrels per day from the level of October 2016, of which 300 thousand are in Russia. The deal started from the beginning of 2017 and has twice been extended, most recently until the end of 2018.

In Vienna on 21 June there will be a meeting of the Ministerial monitoring Committee of OPEC+, and on June 22 will be followed by a meeting of the OPEC countries, June 23 will be a meeting of all 24 countries participating in the agreement OPEC+. As expected, during these meetings will discuss the possibility of increased production as part of the deal, OPEC+.

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