Oman is ready to cut oil production by 5 or 10%

Oman is ready to cut oil production by 5 or 10%

Currently the oil market is unstable, the country is experiencing a “real tsunami”, said the oil Minister of Oman. According to him, the export of oil by Iran after removal of sanctions of concern, as the market oversupply.

MOSCOW, 18 Jan. The Sultanate of Oman is ready to cut oil production by 5 or 10%, the state also encourages other countries to take such a step, Reuters reported citing a statement by the oil Minister of Oman Muhammad bin Hamad al-Rumhi.

Ar-Rumhi noted that the expected crude oil exports of Iran after the lifting of sanctions with States of concern in Oman. According to him, due to the fact that the oil market is experiencing a surplus of proposals.

“The market is unstable, we are experiencing a real tsunami”, — quotes the Minister Agency.

Saturday, October 16, countries the IAEA has received the final report of the experts of the Agency on Iran’s nuclear program, leading up to the inauguration of its implementation. The document reaffirmed that Iran has fulfilled its obligations under the agreement on the Iranian nuclear program. After that, the EU and the US confirmed the removal from Iran of economic and financial sanctions related to its nuclear program.

Iran and “six” on the night of July 14, reached a historic agreement on the settlement of the longstanding problem of the Iranian atom. Lengthy negotiations culminated in the joint comprehensive plan of action, which will completely withdraw from Iran’s previously imposed economic and financial sanctions by the UNSC, U.S. and EU in exchange for the verification of the peaceful nature of Iran’s nuclear program.