World
Iran oil minister says market on right track after OPEC+ decisions
Iran’s oil minister Javad Owji said that the oil market is on the right track after decisions made by OPEC+, the semi-official Iranian news agency Tasnim reported on Wednesday.
For the latest headlines, follow our Google News channel online or via the app.
“Iran and Russia have the same views inside OPEC+,” Owji added on the sidelines of an Iranian-Russian conference of economic cooperation held in Tehran.
OPEC and its allies led by Russia, known as OPEC+, agreed to cut production in late 2022 to support the market as the economic outlook worsened, hitting prices.
Then in a surprise move in early April, Saudi Arabia and other OPEC+ members announced further oil output cuts of around 1.2 million barrels per day.
Read more:
Top Russian energy diplomat visits Iran, emphasizes cooperation in oil, gas sectors
Russia’s Putin says oil output cuts needed to maintain prices