Iran urged to limit oil production in Libya and Nigeria

Baku. 25 September. REPORT.AZ/ Iran called for limiting oil production in Libya and Nigeria within OPEC+ deal.

Report informs citing the Vestifinance, Iranian Minister of Petroleum Bijan Namdar Zanganeh made a statement to the Bloomberg. 

The minister is sure that it is the increase in production in these two countries that leads to incomplete implementation of the OPEC+ agreement. According to the International Energy Agency (IEA), in August OPEC production by 0.52% or 170,000 barrels per day exceeded the target level of 32.5 mln barrels. According to experts, the reason is precisely in the growth of production of Libyan and Nigerian oil.

Notably, summing up the results of the meeting of the monitoring committee in Vienna on September 22, Minister of Energy of the Russian Federatio Alexander Novak noted that Libya and Nigeria are ready not only to not to increase the volumes of oil, but, maybe, even to reduce by 2-3%.

The next OPEC+ meeting will be held in November.