for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Commodities

Iran sees OPEC consensus for nine-month oil output cut extension

Iran's Oil Minister Bijan Zangeneh talks to journalists as he arrives at his hotel ahead of a meeting of OPEC oil ministers in Vienna, Austria, December 3, 2015. REUTERS/Heinz-Peter Bader

VIENNA (Reuters) - Iranian Oil Minister Bijan Zangeneh said on Wednesday there seemed to be a consensus for major oil producers to extend output cuts by nine months and that it was important for OPEC as well as non-members to comply for any duration.

Asked whether there was a consensus for a nine-month extension, he said: “Yes, it seems so.”

The Organization of the Petroleum Exporting Countries meets in Vienna on Thursday to consider whether to prolong an accord reached in December in which OPEC and 11 non-members agreed to cut oil output by about 1.8 million barrels per day in the first half of 2017.

Reporting by Ahmad Ghaddar; Editing by Dale Hudson

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up