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OPEC to agree on extending output cut: Iran oil minister

Iran's Minister of Petroleum said here on Monday that most members of the Organization of the Petroleum Exporting Countries (OPEC) are going to agree with the plan to extend crude production cut in the upcoming meeting.

OPEC to agree on extending output cut: Iran oil minister
(Saturday, December 2, 2017) 11:13
Most OPEC members are in agreement regarding the Issue, Bijan Zangeneh told reporters.

'But the final decision on the future of the deal is expected to be made at the upcoming OPEC meeting,' Zangeneh added.

Touching upon the gas deal reached between Iran and France’s Total for developing Iran's phase 11 of the South Pars Gas Field, the petroleum minister said that all the rhetoric surrounding the issue and the disputes over the Total deal are being put forward in a 'sick way'.

'Iran's agreement with Total is a legally binding contract and it is progressing,' Zangeneh said.

Commenting on Iran energy exports, the minister said over 2.5 barrels of oil and gas condensates are exporting each day.
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