| OPEC member Iran will not negotiate with the cartel over a planned half million barrels per day oil production hike once sanctions are lifted, the country's oil minister said Tuesday. Despite a supply glut keeping crude prices low, Iran has consistently said it plans to up its output when nuclear-related sanctions are lifted under a deal agreed in July with world powers.
Oil Minister Bijan Zanganeh reiterated the stance at a press conference in Tehran, where he said OPEC would be informed of the production jump but no more. "We will not negotiate with OPEC to increase our production. We will only notify them when we adapt," he told reporters...............................................Full Article: Source
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