Iran's Oil Minister Bijan Zanganeh speaks during the Iran Petroleum Contracts Conference in Tehran, Iran, Saturday, Nov. 28, 2015. (AP Photo/Vahid Salemi)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Iran downplayed on Monday the chances of OPEC and non-OPEC oil producers clinching an output-restraint deal in Algeria this week even though several other members of the group said they still hoped for steps to tackle a price-eroding glut of crude.Oil prices have more than halved from 2014 levels due to oversupply, prompting OPEC producers and rival Russia to seek a market rebalancing that would boost revenues from oil exports and help their crippled budgets.One OPEC delegate said the focus was now firmly on trying to persuade Iran to freeze production at levels acceptable for the rest of OPEC.The sanctions were eased in January 2016, and Iran has said it wants to achieve output of more than 4 million bpd.
FOLLOW THIS ARTICLE