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OPEC members who increased output should take lead on cuts - Iran

Gasoil News - Published on Wed, 05 Dec 2018

Image Source: yimg.com
Iran believes that any supply reduction should come from those who pumped more, Saudi Arabia and Russia have provided the largest increases, rather than all 25 OPEC and non-OPEC countries involved in the current accord.
Iran’s OPEC governor, Hossein Kazempour Ardebili, referring to Qatar’s decision to quit OPEC, told Reuters that any supply cuts should come only from countries that had increased output. He said “This is very regrettable and we understand their frustration. There are many other OPEC members frustrated that the JMMC is deciding on production unilaterally and without the required prior consensus of OPEC.”

The comments underline tensions within the Organisation of the Petroleum Exporting Countries ahead of this week’s meeting to discuss curbing output and prolonging a supply-limiting pact with Russia and other non-members into 2019.

Iran has been angered by higher production from Saudi Arabia and Russia

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Posted By : Joykumar Irom on Wed, 05 Dec 2018
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