Reuters logo
Iran's oil minister says OPEC unlikely to change output ceiling -Mehr news agency
May 24, 2015 / 6:37 AM / 2 years ago

Iran's oil minister says OPEC unlikely to change output ceiling -Mehr news agency

DUBAI, May 24 (Reuters) - OPEC is unlikely to change its production ceiling when the group meets in June, Iran’s Oil Minister, Bijan Zanganeh, said on Sunday, according to the semi-official Mehr news agency.

“Lowering OPEC’s production ceiling requires consensus between all members ... under current conditions it seems unlikely that the OPEC production ceiling will change,” Zanganeh was quoted as saying.

The Organisation of the Petroleum Exporting Countries will meet on June 5. At its last meeting in November, OPEC, led by oil kingpin Saudi Arabia, decided against cutting output to defend its market share. (Reporting by Sam Wilkin; writing by Rania El Gamal; Editing by Susan Fenton)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below