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Iran optimistic on OPEC deal, to give view on curbs at meeting

Reuters  |  DUBAI 

(Reuters) - is optimistic about reaching an agreement and plans to announce its own decision about any output curbs at the group's meeting next week, Iranian Minister Bijan Zanganeh said on the ministry's official website SHANA.

"The proposal of Algerian Energy Minister (Nouredine Bouterfa) on the production of each country was presented today and carefully studied," Zanganeh was quoted as saying on Saturday after meeting Bouterfa in Tehran.

"We are to present our views about this proposal at the ... Nov. 30 meeting. The general trend and public statements suggest that can reach a viable agreement for its production and market management," Zanganeh said.

"If we can agree, and I am optimistic, (oil) prices will increase and this is also what the world economy demands."

The Organization of the Petroleum Exporting Countries is moving closer toward finalising its first deal since 2008 to limit output, but has been a stumbling block because Tehran wants exemptions as it tries to regain market share after the easing of Western sanctions in January.

(Reporting by newsroom; Editing by Alexander Smith)

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

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Iran optimistic on OPEC deal, to give view on curbs at meeting

DUBAI (Reuters) - Iran is optimistic about OPEC reaching an agreement and plans to announce its own decision about any output curbs at the group's meeting next week, Iranian Oil Minister Bijan Zanganeh said on the ministry's official website SHANA.

(Reuters) - is optimistic about reaching an agreement and plans to announce its own decision about any output curbs at the group's meeting next week, Iranian Minister Bijan Zanganeh said on the ministry's official website SHANA.

"The proposal of Algerian Energy Minister (Nouredine Bouterfa) on the production of each country was presented today and carefully studied," Zanganeh was quoted as saying on Saturday after meeting Bouterfa in Tehran.

"We are to present our views about this proposal at the ... Nov. 30 meeting. The general trend and public statements suggest that can reach a viable agreement for its production and market management," Zanganeh said.

"If we can agree, and I am optimistic, (oil) prices will increase and this is also what the world economy demands."

The Organization of the Petroleum Exporting Countries is moving closer toward finalising its first deal since 2008 to limit output, but has been a stumbling block because Tehran wants exemptions as it tries to regain market share after the easing of Western sanctions in January.

(Reporting by newsroom; Editing by Alexander Smith)

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

image
Business Standard
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Iran optimistic on OPEC deal, to give view on curbs at meeting

(Reuters) - is optimistic about reaching an agreement and plans to announce its own decision about any output curbs at the group's meeting next week, Iranian Minister Bijan Zanganeh said on the ministry's official website SHANA.

"The proposal of Algerian Energy Minister (Nouredine Bouterfa) on the production of each country was presented today and carefully studied," Zanganeh was quoted as saying on Saturday after meeting Bouterfa in Tehran.

"We are to present our views about this proposal at the ... Nov. 30 meeting. The general trend and public statements suggest that can reach a viable agreement for its production and market management," Zanganeh said.

"If we can agree, and I am optimistic, (oil) prices will increase and this is also what the world economy demands."

The Organization of the Petroleum Exporting Countries is moving closer toward finalising its first deal since 2008 to limit output, but has been a stumbling block because Tehran wants exemptions as it tries to regain market share after the easing of Western sanctions in January.

(Reporting by newsroom; Editing by Alexander Smith)

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

image
Business Standard
177 22