Algerian energy minister to discuss oil output cuts in Tehran

November 25, 2016 - 17:30

Algeria’s Energy Minister Noureddine Boutarfa will meet his Iranian counterpart in Tehran on Saturday to discuss implementation of oil output cuts agreed in Algiers in September, an Algerian energy source said on Thursday.

Although Reuters reported that Bouterfa will meet Iranian counterpart Hamid Chitchian, but he is highly likely to meet Iranian Oil Minister Bijan Namdar Zanganeh, as well.

“We will do the maximum to secure the implementation of the Algiers’ deal,” the source said.

Algerian state news agency APS later quoted an energy ministry source confirming the Tehran visit and saying that it would involve discussions on how to reach a consensus among OPEC members when they meet in Vienna on Nov. 30.

At the September meeting, OPEC agreed on modest, preliminary, oil output cuts in the first such deal since 2008, with special conditions given to Libya, Nigeria and Iran.

Iran has refused to cap production below 4 million barrels per day as it seeks to regain market share lost under sanctions.

(Source: agencies)