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Iran oil minister says OPEC output cut should be extended into second-half - Fars
February 7, 2017 / 5:22 PM / 10 months ago

Iran oil minister says OPEC output cut should be extended into second-half - Fars

DUBAI (Reuters) - Iranian Oil Minister Bijan Zanganeh said OPEC should cut crude production “a bit more” in the second half of 2017, Fars news agency reported on Tuesday.

Iran's Oil Minister Bijan Zanganeh arrives for a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, November 30, 2016. REUTERS/Heinz-Peter Bader

The Organization of the Petroleum Exporting Countries agreed on Nov. 30 to cut output by 1.2 million bpd to 32.5 million bpd for the first six months of 2017, in addition to 558,000 bpd of cuts agreed by non-members such as Russia, Oman and Mexico.

OPEC members all agree that oil should be $60 a barrel, Fars quoted Zanganeh as saying.

Reporting by Bozorgmehr Sharafedin; Editing by Dale Hudson

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