• Tue / 2 July 2019 / 12:05
  • Category: Economy
  • News Code: 98041105594
  • Journalist : 71477

Iran exempted from oil output cuts: Zanganeh

Iran exempted from oil output cuts: Zanganeh

Tehran (ISNA) - Iranian Oil Minister, Bijan Zangeneh stressed that Iranian demands were fulfilled in the 176th OPEC meeting in Vienna, saying, Iran has been exempted from oil output cuts.

Speaking to reporters, Bijan Zangeneh said fortunately all modifications have been made with regard to OPEC and non-OPEC cooperation charter, adding that the decisions are non-binding.

OPEC meeting final statement reiterated that the charter will have no effect on OPEC operational decisions and mechanisms, he said.

He went on to say that decisions should be made for financial sources issues in order not to put new pressure on OPEC.

He predicted that the Iranian government will not oppose the charter, adding that the OPEC-non-OPEC charter is voluntary and non-binding.

The cooperation is aimed at creating a mechanism for maintaining cooperation between OPEC member states and the non-OPEC oil producers, IRNA reported.

The OPEC ministers on Monday agreed to extend of oil output cuts for another 9 months.

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