Oil Minister Sees more Output Cuts by OPEC at Next Meeting

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Iranian Oil Minister Bijan Zanganeh was quoted as saying on Monday that he expects further production cuts to be agreed at the next meeting of the Organization of the Petroleum Exporting Countries (OPEC) in December.

“We expect the decline in oil production to increase further. which means that we will see a further decrease by OPEC to the market.“ Iran’s semi-official Mehr news agency quoted Zanganeh as saying when asked about the next OPEC meeting.