22 states agree to cut production by 10 million oil bpd, Iran's minister says

Tehran, April 10, IRNA – Iran's Petroleum Minister Bijan Zangeneh said on Friday that OPEC and non-OPEC members reached an agreement to cut the production by 10 million oil barrels per day.

Commenting on the 9th (Extraordinary) OPEC and non-OPEC Ministerial Meeting that was held via webinar, the minister added that negotiations with Mexico to finalize this decision continue.

The decision would be for two years, he said, adding that a two-year decision was made for the first time in OPEC's history.

This is one of the most unprecedented figures in OPEC and non-OPEC production cuts, he underlined.

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