‘Iran supports unanimous OPEC output cut plan’

Iran supports deeper crude oil cuts by the Organisation of the Petroleum Exporting Countries (OPEC) if a majority of members agreed with it, Oil Minister Bijan Zangeneh was quoted as saying by the Iranian energy news website Shana.

A technical panel, known as the JTC that advises OPEC and its allies led by Russia - a grouping known as OPEC+ - proposed on Thursday a provisional cut of 600,000 barrels per day (bpd), three sources told Reuters.

OPEC producers in OPEC+ are currently discussing whether to meet earlier than their scheduled gathering in Vienna on March 5-6.

Earlier Russia said it needed more time to decide whether to join any additional oil output cuts by OPEC, saying US crude production growth would slow and global demand remained solid.