Thursday Dec 13, 2018

PetroEnergy Information Network

Wednesday / 12/5/2018 12:00:00 AM / 15:59
Service : Oil
News Id : 286044
Reporter : 763

Iran’s Zangeneh Leaves Tehran for Vienna to Attend OPEC Meeting

(Wednesday, December 5, 2018) 15:59

TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh left Tehran for Vienna on Wednesday to attend the 175th general meeting of the Organization of the Petroleum Exporting Countries (OPEC).

Reducing at least a million barrels per day of the group’s production in a bid to prevent further drops in oil prices is top on the meeting’s agenda in Vienna on December 6.

On November 30, 2016, OPEC members agreed to cut their overall output by 1.2 mbd to bring the group’s production to 32.5 mbd.

Ten days after the decision, OPEC and non-OPEC producers agreed to totally cut their output by 1.8 mbd; an agreement which was extended until the end of 2018.


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