Baku, Azerbaijan, Sept. 27
By Dalga Khatinoglu – Trend:
Iran will announce its oil output ceiling level at 4.173 million barrels per day (mb/d) during the meeting between OPEC and non-OPEC oil producers in Algeria, Fars reported Sept. 27.
Iran’s Oil Minister Bijan Namdar Zanganeh participated in the 15th International Energy Forum, which kicked off in Algeria on Sept. 27.
Fars reported that Zanganeh will offer a package of Iran’s proposals on supporting oil prices.
The package puts Iran’s output at 12.7 percent of OPEC’s total output.
The report said Iran would ask other producers, including OPEC and non-OPEC countries to decrease their output by 1 mb/d for a year.
It is not clear whether other countries would accept Iran’s proposal or not. However, OPEC’s number one producer Saudi Arabia has announced it would decrease output in case Iran stops oil production growth.
Currently, Iran produces 3.7 mb/d of crude oil.