Upon his arrival in Vienna, Bijan Zanganeh before attending an emergency OPEC meeting , he told reporters that we witness a decline in transportation and in cities.
He emphasized that the oil market is currently in surplus due to the spread of the coronavirus, stating that it is necessary for OPEC and non-OPEC members to do their best to balance the oil market.
According to Zangeneh, at the proposal of the Joint OPEC and Non-OPEC Joint Technical Committee (JTC) and the Secretariat, at least about 500,000 barrels per day should be cut.
Responding to a question of whether Iran is pursuing a policy of more than 500,000 barrels of oil reduction, Iran's Petroleum Minister added politics is working here not experts' views.
Zangeneh arrived in Vienna, Austria this morning to attend the extraordinary OPEC meeting.
At the meeting, oil-exporting countries' ministers are to decide on further cuts in production to counter the negative effects of the coronavirus on demand.
The 178th OPEC Meeting and the 8th OPEC and Non-OPEC Joint Ministerial Meeting will be held at the organization's headquarters in Vienna during March 5 and 6.
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