OPEC+ to adjust oil production plans to stabilize market

OPEC+ countries plan to adjust oil production decisions to achieve market stability, Iran's Oil Minister Mohsen Paknejad told journalists, Report informs via TASS.

"We plan to adjust [the plan]," he said, without specifying which period he was referring to. "We will make some decisions with other OPEC+ countries to stabilize the market at present."

Iran is a member of OPEC and a participant in the OPEC+ deal, however, it is exempt from oil production restrictions.

Iran's Oil Minister will be the president of the OPEC conference in 2025. One of the representatives of OPEC member countries is elected to this position each year.