Zanganeh arrives in Vienna to attend OPEC meeting

TEHRAN, Dec. 05 (MNA) – Iran’s Oil Minister Bijan Namdar Zanganeh landed in Vienna Thursday morning to take part in the 177th meeting of the Organization of Petroleum Exporting Countries (OPEC) in order to assess the situation of this resource in the international market.

The Iranian minister is also scheduled to hold talks with OPEC Secretary-General Mohammed Barkindo.

Reportedly, OPEC and allied oil producers will consider deepening their existing oil output cuts by about 400,000 barrels per day (bpd) to 1.6 million bpd.

OPEC+ oil exporters have coordinated output for three years to balance the market and support prices. Their current deal, which agreed to cut supply by 1.2 million bpd from January this year, expires at the end of March.


News Code 153056


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