DUBAI — Iran supports deeper crude oil cuts by the Organisation of the Petroleum Exporting Countries (OPEC) if a majority of members agreed with it, Oil Minister Bijan Zangeneh was quoted as saying by the Iranian energy news website Shana.
A technical panel, known as the JTC, that advises OPEC and its allies led by Russia – a grouping known as OPEC+ – proposed on Thursday a provisional cut of 600,000 barrels per day (bpd), three sources told Reuters.
OPEC producers in OPEC+ are currently discussing whether to meet earlier than their scheduled gathering in Vienna on March 5-6.
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*Maher Chmaytelli; editing: David Evans – Reuters