Iran optimistic ahead of OPEC meeting: Minister

AFP, TEHRAN: Iran is optimistic that OPEC can reach an agreement to cut production and improve prices, Oil Minister Bijan Zanganeh said on Saturday after meeting the cartel’s chief Mohammad Sanusi Barkindo.
“There is a high possibility of OPEC’s petroleum and energy ministers reaching an agreement at the November meeting,” Zanganeh said, quoted by the ministry’s Shana news website.
“Member and non-member countries are trying to reach a comprehensive agreement at the summit, and the information Secretary General Barkindo gave me today is promising.
“I think we will have a better situation in the future,” he added. In September, the 14 members of the Organization of the Petroleum Exporting Countries agreed at an informal Algiers meeting to cut output, hoping to boost prices that have been severely depressed since 2014. Details of the deal, supposed to bring in non-OPEC producers including Russia, are expected to be worked out at a formal OPEC meeting in Vienna on November 30.

Iran optimistic ahead of OPEC meeting: Minister

AFP, TEHRAN: Iran is optimistic that OPEC can reach an agreement to cut production and improve prices, Oil Minister Bijan Zanganeh said on Saturday after meeting the cartels chief Mohammad Sanusi Barkindo. There is a high possibility of OPECs petroleum and energy ministers reaching an agreement at the November meeting, Zanganeh said, quoted by the ministrys Shana news website. Member and non-member countries are trying to reach a comprehensive agreement at the summit, and the information Secretary General Barkindo gave me today is promising. I think we will have a better situation in the future, he added. In September, the 14 members of the Organization of the Petroleum Exporting Countries agreed at an informal Algiers meeting to cut output, hoping to boost prices that have been severely depressed since 2014. Details of the deal, supposed to bring in non-OPEC producers including Russia, are expected to be worked out at a formal OPEC meeting in Vienna on November 30.