April 23, 2018 / 12:30 PM / 10 months ago

Iran says no need to extend OPEC, non-OPEC pact if crude oil prices rise - SHANA

ANKARA, April 23 (Reuters) - Iran’s oil minister said that if crude oil prices continued to rise there would be no need to extend a pact between OPEC and non-OPEC producers aimed at bolstering prices, the ministry’s official website SHANA reported on Monday.

“There will be no decision on this in OPEC’s next meeting ... if oil prices continue to increase, there will be no need to extend the deal,” Bijan Zanganeh was quoted as saying by SHANA.

He also accused U.S. President Donald Trump of not favouring lower oil prices, despite his criticism of OPEC’s role in pushing up global oil prices on Friday. (Writing by Parisa Hafezi, editing by Louise Heavens)

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