Iran May Cap Output If OPEC Remains Committed To Cuts

By Tsvetana Paraskova Iran will be capping its crude oil output at 3.8 million bpd in the second half of the year if fellow OPEC members stay committed to the cuts they had pledged, Iran’s Oil Minister Bijan Namdar Zanganeh said on Tuesday, as quoted by state news agency IRNA. “If OPEC members stay committed to the agreement [on freezing output], Iran will produce 3.8 million BPD of oil in [the] second half of the current year,” Zanganeh said, as reported by Reuters. OPEC decided to curb its total output by some 1.2 million bpd in the first half of…

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