December 9, 2021

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Oil Ministry Not to Wait for JCPOA Talks

Oil Ministry Not to Wait for JCPOA Talks
Oil Ministry Not to Wait for JCPOA Talks

Oil Ministry will not wait for the decisions and negotiations, Minister of Petroleum said on Thursday after 22nd OPEC and non-OPEC Ministerial Meeting.

TEHRAN (Iran News) – Oil Ministry Not to Wait for JCPOA Talks. Oil Ministry will not wait for the decisions and negotiations, Minister of Petroleum said on Thursday after 22nd OPEC and non-OPEC Ministerial Meeting.

Javad Owji made the remark after 22nd OPEC and non-OPEC Ministerial Meeting held via video conference on Thursday, adding we are trying and have made some achievements in this regard by utilizing all capacities and applying different sales methods which help with the country’s revenues.

There have been improvements in crude oil and gas condensates exports in the 13th administration through using capacities and potentials as well as national and international organizations, he added.

The U.S. recent attempt in Sea of Oman and Persian Gulf was due to the increase in crude oil and gas condensates output and exports, Owji said.

On OPEC+ meeting, he said the 22nd OPEC+ Ministerial Meeting was held today and the group agreed to continue with raising 400,000 bpd in crude oil output for December, he stated.

Meanwhile the Organization of the Petroleum Exporting Countries and its allied producers reached a consensus on Thursday on extending the current crude oil output plan and raise their production by 400,000 bpd for December.

The 23 members of OPEC and non-OPEC coalition, known as OPEC+, made an agreement during the 22nd OPEC and non-OPEC Ministerial Meeting, held via video conference on Thursday, to add further 400,000 bpd to their crude oil output despite pressures by the U.S. President, Joe Biden.

Meanwhile, the group agreed to hold the 23rd OPEC and non-OPEC Ministerial Meeting on December 2.

OPEC and its allies cut their crude oil output by a record amount in 2020 as COVID-19 pandemic and the global lockdown measures decreased fuel demand.

The coalition reduced its crude oil production by 9.7 million bpd in May 2020, then eased cuts as oil demand recovered.

Original News : https://irannewsdaily.com/2021/11/oil-ministry-not-to-wait-for-jcpoa-talks/

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