November 6, 2018 / 11:46 AM / 12 days ago

Iran oil minister calls on OPEC to scrap monitoring committees: Shana

FILE PHOTO: Iran's Oil Minister Bijan Zanganeh arrives for an OPEC meeting in Vienna, Austria, June 22, 2018. REUTERS/Heinz-Peter Bader/File Photo

LONDON (Reuters) - Iran’s oil minister wrote to OPEC’s secretary general calling for two committees tasked with monitoring a deal between OPEC and other countries led by Russia to be scrapped, Iran’s Shana news agency said on Tuesday.

“Some OPEC members of these two committees have clearly taken sides with the (United States) in imposing its unilateral and unlawful sanctions against... Iran,” Shana quoted Bijan Zanganeh as saying.

“They (the committees) should immediately stop their work.”

The Joint Ministerial Monitoring Committee (JMMC) and Joint Technical Committee (JTC) were set up as part of a deal between OPEC and other producers led by Russia in late 2016 to curb oil supplies by some 1.8 million barrels per day.

The JTC prepares regular reports on the oil market which inform the group’s decisions.

At their meeting in June, OPEC and non-OPEC agreed to boost output by returning to 100 percent compliance with supply cuts that took effect in January 2017, after months of underproduction by some member countries including Venezuela and Angola.

Saudi Arabia said the move would translate into an output rise of around 1 million bpd.

The JMMC will meet in Abu Dhabi on Nov. 11.

Reporting by Shadia Nasralla, Ahmad Ghaddar; editing by Louise Heavens

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