Iran Asking OPEC to Use March-April Oil Output Levels as Baseline for New Cuts – Source


Iran Asking OPEC to Use March-April Oil Output Levels as Baseline for New Cuts – Source

Iran has asked other OPEC states to use the country’s March or April oil production levels of about 3. 8 million barrels per day as a baseline for the potential output cut as part of the extension of the OPEC-non-OPEC deal, a source close to the talks told Sputnik.

According to the source, the request was voiced on Thursday by Iranian Oil Minister Bijan Zangeneh who noted that in March and April Tehran’s oil output had not been affected by the re-imposition of US sanctions.

All 25 involved countries were expected to cut their oil production on a pro-data basis choosing either September or October output levels as their own baseline depending on their highest production level, the source added.Read More

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