24 Nov 2024
Wednesday 5 December 2018 - 18:23
Story Code : 329517

Irans Zangeneh leaves Tehran for Vienna to attend OPEC meeting

SHANA -- Iranian Minister of Petroleum Bijan Zangeneh left Tehran for Vienna on Wednesday to attend the 175th general meeting of the Organization of the Petroleum Exporting Countries (OPEC).

Reducing at least a million barrels per day of the groups production in a bid to prevent further drops in oil prices is top on the meetings agenda in Vienna on December 6.

On November 30, 2016, OPEC members agreed to cut their overall output by 1.2 mbd to bring the groups production to 32.5 mbd.

Ten days after the decision, OPEC and non-OPEC producers agreed to totally cut their output by 1.8 mbd; an agreement which was extended until the end of 2018.
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