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Most oil producers want extension of output cuts: Iran minister
Most oil producers support an extension of output cuts by OPEC and non-OPEC countries, and Iran would also back such a move, Iranian Oil Minister Bijan Zanganeh was quoted as saying. "(Zanganeh) stressed that most countries want OPEC's decision to be extended," the Iranian Students' News Agency (ISNA) reported. "Iran also supports such a decision and if others comply, so would Iran," Zanganeh told reporters late on Saturday, according to ISNA. The market has been oversupplied since mid-2014, prompting members of the Organization of the Petroleum Exporting Countries and some non-OPEC producers to agree to cut output ... (full story)
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