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Iran yet to decide on Opec limits

Iran yet to decide on Opec limits

TEHRAN: Iran has yet to take any decision on whether to set a ceiling on oil production or take part in a planned Opec meeting in Algeria, an oil ministry source told AFP Wednesday.

“It is too early to talk of a decision from Iran concerning a freeze in the level of production,” said the source, speaking on condition of anonymity.

The comments followed rumours that Iran would take part in an informal Opec meeting in September on the margins of an energy forum.

Oil prices jumped after reports that Iran had sent “positive signals” that it might support a move by Opec and Russia to freeze production in order to boost prices.

Published in Dawn, August 25th, 2016

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