Iran may agree increase in OPEC oil output - minister | Reuters

Iran may agree increase in OPEC oil output - minister | Reuters:

"Iran may agree to an increase in oil output by OPEC and its allies through producers who have overdelivered on cuts moving up to their quotas, Iranian Oil Minister Bijan Zanganeh said in an interview with CNN. The Organization of the Petroleum Exporting Countries (OPEC), Russia and several other producers had agreed to cut output by about 1.8 million barrels per day (bpd) starting from January 2017. The agreement has driven down inventories and pushed up oil prices. However, a number of producers including Saudi Arabia have been cutting more deeply than planned despite outages in Venezuela and Libya, meaning they could modestly boost output while complying with their quotas."



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