Iran's oil minister says OPEC+ policy fruitful so far

Iran's oil minister says OPEC+ policy fruitful so far

OPEC+ policies have helped so far to balance the oil market, Iranian Oil Minister Bijan Zanganeh said after a meeting with Azerbaijan’s oil minister Parviz Shahbazov.

The minister added that he was hopeful that the group could maintain prices at "suitable" levels.

"Fortunately OPEC+ measures have been fruitful so far. I hope we can maintain oil prices at a suitable level," SHANA news agency cited Zanganeh as saying.

The Organization of the Petroleum Exporting Countries and other producers including Russia, a group known as OPEC+, agreed in early December to ease their output cuts from January by 500,000 barrels per day.

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