Date: 6 months ago   Category: Energy

Iran has urged Russia and Saudi Arabia to reduce oil production — Rambler News Service


Photo: Victor of Drachev/TASS Saudi Arabia and Russia have to reduce production because of reduction of prices of oil, the representative of Iran in OPEC Hussein Kazempur Ardebili has told the Bloomberg agency. "They have to reduce (oil production. — RNS). The minimum indicator of reduction is 1 million barrels a day" — he has told. According to the representative of Iran in OPEC, actions of Saudi Arabia have led to disbalance of the market and drop in oil prices. He has specified that as a result of increase in production by Russia and Saudi Arabia the cost of one barrel of oil has fallen to $15. On November 5 U.S. authorities have restored all sanctions against Iran which have been cancelled after "the nuclear transaction" of 2015. Restrictive measures, in particular, have affected export of the Iranian oil. Will be able to buy her only eight countries: China, Greece, India, Italy, Japan, Taiwan, South Korea and Turkey. On the eve of the price of January futures for Brent crude oil for the first time since August, 2018 lower than $72 have fallen. December futures for WTI crude oil have fallen in price up to $61,97 for barrel meanwhile.

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