Bijan Zanganeh dismissed as undigested remarks US President Donald Trump's remarks that decreasing purchase ...
"Iran is supplying the market with 2.5mln barrels of oil each day and excluding this volume from the oil market will certainly leave its impact; Mr. Trump speaks too much," Zanganeh said on Saturday.
He also said the recent reduction in market prices shouldn't be a concern as it "indicates a decrease in the political tensions in the region".
Zanganeh also underlined that most members of the Organization of the Petroleum Exporting Countries (OPEC) agree with extending plans to freeze oil production at the current levels.
OPEC and Russia have crafted the outline of a deal to extend their oil production cuts to the end of next year, although both sides are still hammering out crucial details, according to people involved in the conversations.
The Organization of Petroleum Exporting Countries and several non-OPEC nations led by Russia will meet next week in Vienna to discuss prolonging their output curbs. Moscow had been hesitating over the need for an extension now because the current deal doesn’t expire until the end of March.
After days of talks, Moscow and Riyadh now agree they should announce an additional period of cuts at the Nov. 30 meeting, the people said, asking not to be named because the conversations are private. Russia wants the extension deal to include new language that would link the size of the curbs to the health of the oil market, they said.