Baku, Azerbaijan, Feb. 8
By Emil Ilgar – Trend:
Iran says the amount of oil production cut after OPEC and non-OPEC deal, is satisfying.
OPEC and non-Cartel producers have committed to cut their production by 1.8 million barrels per day (mb/d) in the first half of 2017 to support the oil price.
Meanwhile, Iran’s Oil Minister Bijan Namdar Zanganeh said that the oil price at $60 is good, Tasnim reported Feb.8.
During a meeting with his Venezuelan counterpart Nelson Pablo Martínez he said that non-OPEC producers have been decreasing the oil output gradually, and Iran hopes the process will continue, so the states would fulfil their commitments.
Eleven non-OPEC countries committed on Dec.10 to decrease 558,000 barrels per day (b/d), while OPEC obliged to cut 1.2 mb/d.
Iran is excluded from the deal and has been allowed to increase its output by 90,000 b/d to 3.797 mb/d.