Iran not ready to oil output cut

Sat 08 Dec 2018 21:13 GMT | 01:13 Local Time

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Tehran will not agree to even a ‘symbolic’ oil production cut within OPEC+ framework and demands an exception, a representative of the Iranian delegation told reporters on the sidelines of the OPEC meeting in Vienna.

"Iran does not agree on cuts. Symbolic or not symbolic, no matter. The only exception," TASS cited the delegate as saying.

He added that the OPEC meeting started at 13:00 Moscow time has not yet ended.

OPEC and Russia seek to obtain Iran’s consent to at least symbolic oil production cut during talks, Bloomberg reported earlier, citing its sources. Iran is under US sanctions limiting its oil export from November of this year.

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