Iran will not cut oil production, but Iraq will


According to Minister of Petroleum of Iran, Bijan Namdar Zanganeh, his country is not going to cut oil production, and there are no talks about it.

“No, we will not,” he said, answering a question whether Iran will cut production. “There are no negotiations about it,” he added.

Meanwhile, the Iraqi government agreed to reduce oil production, which was told by Prime Minister Haider al-Abadi in his interview with The Associated Press.

“Yes, we have agreed to cut production, and we will stick to it, because the current oil price is inadequate. It is not sustainable… So, we are ready… to reduce our own production”, quotes Gazeta.Ru.

He believes that other countries, should take on such an obligation as well.

“Thus, oil production will be reduced by 0.9-1.2 million barrels per day, and that should be enough to push oil prices up,” said al-Abadi.