During the visit, Oil Minister Bijan Zanganeh will meet with Russian Deputy Prime Minister Alexander Novak and Energy Minister Nikolai Shulginov.
Oil and Energy Ministers Producers and non-members of the Organization of the Petroleum Exporting Countries (OPEC), known as the OPEC Plus Coalition, recently decided to facilitate an agreement to reduce their oil production by 500,000 barrels per day in January 2021. Have a monthly.
Accordingly, the daily production of OPEC Plus members from 7 million 700 thousand barrels in January 2021 will increase by 500 thousand barrels per day in January 2021 to 7 million 200 thousand barrels per day.
Iran, Venezuela and Libya are also exempt from any production cuts.