BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

Iran's Zanganeh says oil output surplus up to 2.4 mil b/d; adds Iran will seek exemption from OPEC cuts

Commodities | Petrochemicals | Aromatics | Olefins | Polymers | Solvents & Intermediates

The impact of IMO 2020 on petrochemicals

Natural Gas | Oil

Platts Scenario Planning Service

Oil | Refined Products | Fuel Oil | Shipping | Dry Freight | Marine Fuels | Tankers

Mediterranean Bunker Fuel Conference, 8th Annual

Oil

Bunker testing company VPS sees wide range of 0.5% S fuel viscosity

Iran's Zanganeh says oil output surplus up to 2.4 mil b/d; adds Iran will seek exemption from OPEC cuts

Vienna — Iran will seek an exemption from OPEC proposals to cut production, adding that the group of oil producers is close to securing an agreement as talks begin in Vienna, the country's oil minister said Thursday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Bijan Zanganeh told reporters OPEC was considering how to deal with a projected 1.3 million b/d to 2.4 million b/d surplus and urged ministers to reach an agreement that would "benefit the majority of members." He added that Russia and OPEC were close to securing a deal.

OPEC officials are gathered in Vienna for their final meeting of the year to head off further declines in prices. Brent crude has dropped to below $60/b after reaching $86/b in October amid concerns over oversupply and slowing global demand.

Zanganeh told reporters a price between $60/b and $70/b was acceptable for Iran.

The Islamic Republic faces restrictions on its oil output because of US sanctions, which have already reduced its production to below 3 million b/d last month, according to the latest survey by S&P Global Platts.

"I think they should understand our situation and we expect them to cooperate with us. It is the minimum cooperation but if they don't want to do it we won't accept that," said Zanganeh.

--Staff, newsdesk@spglobal.com

--Edited by Maurice Geller, maurice.geller@spglobal.com