Iran will not renounce its quota in the oil market

Iran will not renounce its quota in the oil market


MOSCOW/TEHRAN, 16 February. Iran will not renounce its quota on the international oil market, said Iran’s oil Minister Bijan Namdar Zanganeh.

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Russia and 3 countries in OPEC are willing to save in 2016 oil production at the January level

“First, it is important that the oil market is oversaturated, and, secondly, that Iran would not miss its quota,” said Zanganeh Agency Shana.

In addition, he confirmed that his colleagues from Iraq and Venezuela due to arrive on Wednesday for a trilateral meeting and discuss the freezing of oil production. “Minister of petroleum and mines of Venezuela, Eulogio del Pino and the oil Minister of Iraq Adel Abdel Mahdi on Wednesday to arrive in Iranian capital”, – said Zanganeh.

Answering the question about the meeting of the Minister of energy of Russia Alexander Novak with representatives of OPEC countries, the Iranian Minister noted that he did not know her results.

Earlier it was reported that Novak met with representatives of OPEC countries. Following the meeting it became known that Russia, Saudi Arabia, Qatar and Venezuela are willing to freeze oil production at the level of 11 January 2016.

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Oil prices over 40 years

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