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Following OPEC’s approval of additional production cuts, Iranian Oil Minister Bijan Zanganeh said his country was still exempt from the reduction. The minister also announced that OPEC wanted non-OPEC countries to contribute 500,000 bpd, out of the total 1.5 million. The deal is still awaiting approval from the Russian government.

Iran is Exempt from the New Production Cuts

Following OPEC’s approval of additional production cuts, Iranian Oil Minister Bijan Zanganeh said his country was still exempt from the reduction. The minister also announced that OPEC wanted non-OPEC countries to contribute 500,000 bpd, out of the total 1.5 million. The deal is still awaiting approval from the Russian government.

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