Zanganeh: OPEC expected to cut output by over 1 mbpd
Baku, Azerbaijan, Nov. 30
By Fatih Karimov – Trend:
Iran's oil minister Bijan Zanganeh said Nov. 30 that OPEC output is expected to decrease by 1-1.2 million barrels per day (mbpd), SHANA news agency reported.
Zanganeh made the remarks on Nov. 30, just hours before OPEC ministers meet to discuss production cuts.
Zanganeh also said that Russia’s position has changed after the recent phone talk between Iranian President Hassan Rouhani and his Russian counterpart Vladimir Putin.
Russia is ready to decrease its output and cooperate with OPEC, he added.
He further said that Iran’s crude oil and condensate export currently stands at 2.8 mbpd.
Zanganeh said after a breakfast with OPEC ministers ahead of the producer group's formal meeting, that there are very few differences and the parties are close to a deal.
Earlier the Iranian minister told reporters that he had received "acceptable proposals," but dismissed the idea of cutting Iranian output under any deal.
OPEC is in its extraordinary session in Algerian on September 28, decided to fix its production at the level of 32.5 million barrels per day (mbpd).
The Cartel's current output stands at 33.6 million barrels per day.