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Iran says to decrease oil production from November

10/15/03

Oil Minister Bijan Namdar Zanganeh has said that Iran will implement a decrease of between 135,000 bpd to 136,000 bpd in its daily oil production from November 1, IRNA reported from Tehran on Tuesday quoting the press.

The Persian-language newspaper 'Hambastegi' quoted Zanganeh as saying that the cut is in line with a recent decision by the Organization of Petroleum Exporting Countries (OPEC) to decrease production by 900,000 bpd.

He further stressed that Iran draws up its oil production policy according to its commitments toward the OPEC.


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