Iranian Oil Minister, Bijan Zanganeh, discussed with his Russian counterpart, Alexander Novak, recent updates about the date of the next Organization of the Petroleum Exporting Countries (OPEC) summit to decide on extending production cuts, Reuters reported.
The meeting was supposed to be held on June 25-26, yet Russia requested postponing it to July 3-4 to avoid clashing with Japan’s G20 discussions in late June. On the other hand, Tehran opposed delaying the meeting.
After the discussions, the Iranian minister noted that he could accept the delay if the meeting date will be shifted to July 10-12, according to SHANA news agency.
OPEC and non-OPEC major producers are discussing Iran’s suggestion of holding the Joint Ministerial Monitoring Committee, an advisory panel, on July 10, followed by OPEC ministers meeting on July 11 and the combined gathering of OPEC and non-OPEC producers on July 12, according to industry sources.