All OPEC members back extension of oil output cut deal, Iran Oil Minister says

All OPEC members back extension of oil output cut deal, Iran Oil Minister says

All members of the Organization of the Petroleum Exporting Countries (OPEC) appear to be supporting the extension of the oil production curtailment agreement, but the timeframe remains the topic for discussion, Iranian Oil Minister Bijan Namdar Zanganeh said Wednesday, Sputnik reports.

"Based on the consultations that we had and reports that we have received it's a unanimous idea to continue the cut that we had decided in November … For how long, it may be some discussion," Zanganeh told reporters in Vienna.

Tehran is willing to continue participating in the agreement on limiting oil production reached by the Organization of the Petroleum Exporting Countries (OPEC) and other major oil producers for any period of time with the same quotas, Iranian Oil Minister Bijan Namdar Zanganeh said Wednesday.

"Iran is ready to continue this decision for any period of time. We are ready to continue the agreement that we have decided in November," Zanganeh told reporters in Vienna, asked if Iran was ready to participate in the deal if no concessions are made for the country.

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