MOSCOW, 13 APR – RIA Novosti. The Minister of oil of Iran Bijan Zanganeh said that the country’s “Big twenty” agreed to reduce oil production by 3.7 million barrels per day under the deal, OPEC+, reported IRNA.
Earlier, the Iranian Minister announced that Saudi Arabia, UAE and Kuwait voluntarily agreed to cut oil supplies by 2 million barrels a day to help oil prices.
OPEC+ Sunday approved a new reduction of oil production from October 2018: 23% in may-June, 18% to the end of 2020 and 14% by the end of April 2022. In the first phase, the Alliance will reduce production to 9.7 million barrels, then 8 and 6 million. For Russia and Saudi Arabia base count will be 11 million barrels per day. On individual terms insisted and Mexico, it decreases production of only 100 thousand barrels per day in may and June, and the rest compensates the United States.
