Revival of OPEC quotas – very difficult task, says Iranian minister
The elimination of the OPEC oil quota system is a grave and historical mistake, Iran’s Oil Minister Bijan Zangeneh told IRNA news agency. He noted on Nov .27 that the revival of a quota system in the upcoming Organization of Oil Exporting Countries (OPEC) meeting on Dec.4 is a very difficult task. OPEC members have agreed on 30 mb/d ceiling level together. However, there is no a binding production quota for each member of OPEC. OPEC discontinued quotas in 2011 because they caused friction and member countries were not complying with them ...
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