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Iran: OPEC could agree in June to start easing oil output cuts in 2019 - WSJ

Reuters  |  DUBAI 

(Reuters) - Iranian minister said could agree in June to begin easing current production curbs in 2019, reported on Sunday.

Zanganeh also told the WSJ in an interview that wanted to work to keep prices around $60 a barrel to contain U.S. production.

"If the price jumps [to] around $70 ... it will motivate more production in in the United States," Zanganeh said.

will press for carefully bringing back some of its own production, the WSJ cited Zanganeh as saying, adding the member currently pumps about 3.8 million barrels per day (bpd) and could produce about 100,000 bpd more. He did not say when could raise its output.

Iran is allowed to pump up to 3.8 million bpd under a global pact between OPEC, and other to limit supply. OPEC meets next in June.

(Reporting by Rania El Gamal; Editing by Mark Potter)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, March 11 2018. 22:51 IST