OPEC waiting for Iran's return to crude market: Oil Minister

TEHRAN, Jun. 01 (MNA) – The Iranian Oil Minister Bijan Zanganeh said after the 17th virtual meeting of the Oil and Energy Ministers of OPEC+ that the meeting was under the influence of Iran's imminent return to the market.

The 17th meeting of the Oil and Energy Ministers of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers, a grouping called OPEC+ was held on Tuesday via videoconferencing.

The Iranian Oil Minister Bijan Zanganeh said after the meeting that the event was under the influence of the possible return of Iran's crude to the market.

Zanganeh told the Iranian state TV that the OPEC+ meeting decided not to increase the production despite a prospect of a better economic situation in the future months.

The Iranian minister said that the next meeting of OPEC+ will be held in July.

He further confirmed that Iran, Venezuela and Libya were still exempted from the production restrictions.

KI/IRINN

News Code 174277

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