‘Iran not expecting OPEC call to cut output’

The Iranian oil minister says OPEC members have achieved a near consensus on extending last year’s agreement on cutting oil output.

Zangeneh made the remarks in Vienna ahead of Thursday’s OPEC meeting. The Iranian minister also said he does not expect OPEC to call on his country to reduce its oil production. OPEC clinched a historic deal with Russia and other non-member states last year to slash global production by nearly 1.8 million barrels per day for six months, which started in January. However, Iran was exempted from cutting output and was allowed to increase production by 90-thousand barrels. Iran’s current oil output is close to four million barrels a day.