05 October 2017, Moscow — Iran’s oil minister said on Wednesday he saw no objection within OPEC to extending or even deepening an OPEC-led deal to cut oil output get rid of a supply glut.
The deal by the Organization of the Petroleum Exporting Countries and non-OPEC producers including Russia to cut supply by about 1.8 million barrels per day runs until March 2018.
“It depends on collective decision and consensus within OPEC, but I think there is no objection to this proposal,” Iran’s Bijan Zanganeh told Reuters, asked whether there were talks to deepen the cut or extend it.
Asked to specify if he meant no objection to deeper cuts, he replied: “Yes. I‘m discussing.”
*Vladimir Soldatkin; Alex Lawler; editing: Jason Neely – Reuters