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16-10-18
Iran, Russia plan to boost oil production
(MENAFN) Iran was unveiled to have secured an agreement with Russia to jointly cooperate to boost oil production by 1 million barrels per day.
The agreement was reached between Iranian petroleum minister Bijan Namdar Zanganeh and his Russian counterpart Alexander Novak in Moscow.
Iran and Russia are committed to be responsible members through increasing oil output, the Russian Energy Ministry confirmed.
Novak stated "the issue of meeting growing demands for energy resources across the globe and prevention of oil market 'overheating' is on the agenda. We hope to stabilize the market and show ourselves as responsible participants by boosting production by one million barrels daily through joint efforts."
He added "the countries speak in favour of creating stable and predictable rules of the game in the oil sector."
MENAFN1610201800450000ID1097574467
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