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.
"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 OPEC meeting. The general trend and public statements suggest that OPEC 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 oil output, but Iran has been a stumbling block because Tehran wants exemptions as it tries to regain oil market share after the easing of Western sanctions in January.
(Reporting by Dubai newsroom; Editing by Alexander Smith)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
