30 May 2020

Iran not to agree to OPEC+ meeting unless...

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Iranian Oil Minister Bijan Zanganeh has said his country is against holding any OPEC+ meeting unless there is a clear proposal and projected outcome from such talks for the oil market. reports citing foreign media.

"The vague circumstances around which the upcoming OPEC and non-OPEC ministerial (meeting) is being organised is of grave concern to me", Zanganeh wrote in the letter dated 7 April and directed to the Algerian oil minister, the current OPEC president.

OPEC+ is due to hold a video conference on Thursday at 2 p.m. GMT. This comes after US President Donald Trump stated he does not rule out that if necessary, the US may reduce oil production after a potential move by OPEC+ to likewise cut rates.

He also tweeted last Thursday that he expects Saudi Arabia and Russia to agree to cut oil output by 10-15 million barrels per day during an OPEC+ meeting scheduled for 9 April.

2020.04.08 / 22:34
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