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Iran may take part in OPEC+ Joint Ministerial Monitoring Committees meeting on June 21

June 20, 2018/ 12:19

Vienna. Iranian Oil Minister Bijan Namdar Zanganeh may take part in the OPEC+ Joint Ministerial Monitoring Committee’s meeting on June 21 in order to discuss the easing of quotas under the oil production cut deal, two sources participating in the talks told TASS.

"We plan to invite Iran and a number of other counties that are not JMMC members. Thus we may discuss the issue on Friday instead of Saturday," one of the sources said.

Another source confirmed to TASS that Zanganeh expected to hold a bilateral meeting with Russian Energy Minister Alexander Novak, who co-chairs the JMMC, ahead the main OPEC+ meeting set to be held on June 22-23.

Zanganeh earlier told reporters that he would leave Vienna on Friday and would not participate in the OPEC+ meeting on Saturday, June 23, when a decision on increasing oil production is expected to be made.

Iran is one of the countries opposing the easing of quotas under the oil cut deal, which was initiated by Russia and Saudi Arabia, who call for increasing oil production for 1.5 mln barrel per day in the third quarter of 2018. The two countries point to the risk of oil shortages as a result of decreasing oil production in Venezuela and possible US sanctions against Iran.

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