Iran warns OPEC, Saudi on violating output-cap agreement
Iranian oil minister has written separate letters to OPEC President Suhail Al Mazrouei and his Saudi Arabian counterpart warning about the consequences of raising oil production above the allowed targets. Addressing Al Mazrouei, Zanganeh warned that any violation of OPEC’s oil production ceiling will hurt the effectiveness of the organization, Shana news agency reported on Monday. Urging strict adherence to the agreed caps, the Iranian minister noted that some member countries have produced “far above” their original commitment in June and ...
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