No OPEC quota, percentage set for Iran’s oil output
Baku, Azerbaijan, Sept. 30
By Emil Ilgar – Trend:
Iran’s oil minister said that Saudi Arabia and Russia agreed to decrease the output, and also agreed that Iran has the right to resume its oil to the pre-sanctions level.
Bijan Namdar Zanganeh said during a live speech from state TV, IRIB, said that overall, OPEC decided to decline the output ceiling, but the members didn’t set any quota for Iran’s oil output.
Iran claims that it has a 13 percent quota in OPEC’s total oil output, which stands at above 4.2 million barrels per day (mb/d).
Earlier, during the International Energy Forum (IEF) meeting in Algiers 26-28 of September, Zanganeh said that Iran should increase its production to at least 4 mb/d.
During this meeting, with presence of OPEC members and some major producers like Russia, the Cartel agreed verbally to decrease its output level from the current 33.24 mb/d to 32.5 mb/d. The decision would be discussed in OPEC’s meeting in November.
Zanganeh said that Iraq claims that the secondary sources have put the country’s current output at 4.3 mb/d, but the real production was 4.77 mb/d. Iraq says it can’t accept to freeze its production level at a volume that the secondary sources have estimated.
Zanganeh said that during November meeting, some scenarios would be proposed about the ways of setting production quota among OPEC members.