4 March 2021 - 20:54
  • News Code: 314281
Zangeneh: Oil Market is Stable Currently

TEHRAN (Shana) -- Iran’s Minister of Petroleum, Bijan Zangeneh, said after the 14th OPEC and non-OPEC Ministerial Meeting held on Thursday via video conference that there is stability in oil market at present.

Zangeneh made the remark and added it was decided to allow Russia and Kazakhstan to add 150,000 bpd to their production in April. Also, Saudi Arabia will cut its oil output by 1 million bpd voluntarily for April.

The meeting was good and did not last too long, he said, adding the next meeting will be held on April 1 to review the market conditions.

News Code 314281

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