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Business

November 20, 2016

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OPEC official, Iran minister to meet

OPEC official, Iran minister to meet

DUBAI: OPEC Secretary-General Mohammed Barkindo and Iran's Oil Minister Bijan Zanganeh will meet in Tehran on Saturday to discuss issues linked to an upcoming OPEC meeting, the ministry's official website reported.

"Consultation about the topics of the OPEC ministers meeting in Vienna on November 30 ... as well as reviewing recent developments of the oil market will be the main topics of the discussions between Zanganeh and Barkindo in Tehran," SHANA said.

OPEC is moving closer toward finalizing this month its first deal since 2008 to limit oil output, with most members prepared to offer Iran significant flexibility on production volumes, ministers and sources said on Friday. Iran has been the main stumbling block for such a deal because Tehran wants exemptions as it tries to regain oil market share after the easing of Western sanctions in January.

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