Iran will not support a new round of oil production cuts at OPEC’s coming meeting in Vienna, the country’s oil minister told local press on Sunday.
“I do not think we move towards cutting production again. Instead, a mechanism should be defined to repair prices in the oil market,” Gholamhossein Nozarisaid, according to remarks published on the website of Press TV.
Mr Nozari did not offer more details on what he thought the “mechanism” should be. His comments come a day after Chakib Khelil, the Algerian minister of energy and mines, said “an additional production cut is very likely” in Vienna.
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