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Iran’s first Exhibition of Opportunities of Domestic Production and Boosting Production will be held late in July. a senior official said. adding that the country is to ease relations between industrialst. manufacturers. and technology firms.

Imports stood at 13.8 million tons worth $16.89 billion. down 16.72% and 23.29% in tonnage and value respectively YOY.

Iran has condemned the move as ``maritime piracy`` and summoned Britain’s ambassador in protest.

The minutes include forming a central committee for the tripartite cooperation.

OPEC member countries discussed the issue of cutting oil production at the session on July 1.

Mr Barkindo was first elected as Secretary General of the bloc in 2016.

Iran had no problem with output cut. slamming ".unilateralism". as the biggest problem in the Organization.

The Strategic Conference will host five panel sessions and four roundtable discussions on the entire heavy oil value chain.

Russia agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil output.

Algeria had floated an idea of deepening the cut by some 600.000 barrels per day.