BAKU, Azerbaijan, April 5. A final decision should be made regarding the reduction of crude oil production by 1.65 million barrels in 2023, at the next meeting of the oil ministers of the OPEC+ countries, Iran's Oil Minister Javad Owji told reporters in Tehran on April 5, Trend reports citing IRNA.
The Organization of the Petroleum Exporting Countries (OPEC) has 13 members. The Non-OPEC countries cooperate with this organization in the OPEC + format.
“Earlier, the OPEC+ countries decided to reduce crude oil production by 2 million barrels for 2023. This decision resulted in an 8-10 percent increase in the price of crude oil on the world market,” Owji said.
According to Owji, there is a unanimous opinion among the OPEC+ countries on the reduction of crude oil production.
Recently, the relations between Iran and OPEC and non-OPEC countries have started to normalize with the establishment of political dialogues between Iran and Saudi Arabia and taken steps in this regard. Iran is currently trying to normalize relations with the Arab countries of the Persian Gulf.
In 2022, OPEC+ countries agreed to reduce crude oil production by 2 million barrels per day for 2023.
According to the OPEC report, Iran's daily crude oil production in February 2023 was 2,571,000 barrels, which is an increase of 17,000 barrels per day compared to January 2023.