Gholam-Hossein Nozari, the Oil Minister in Iran, denied media reports that Iran is planning to reduce its oil production
Gholam-Hossein Nozari, the Oil Minister in Iran, denied media reports that Iran is planning to reduce its oil production.
A source who spoke to Fars News Agency on the condition of anonymity said earlier Iran was planning to cut output by 400,000 to one million barrels per day starting next month (which seemed to refer to the Iranian month starting on May 21).
Guardian in its May 13 report wrote, “Iran plans to reduce oil output starting next month, probably by 400,000 to 1 million barrels per day, the semi-official Fars News Agency on Tuesday quoted an ‘informed source’ as saying.”
Meanwhile, Iran’s Deputy Oil Minister Ali Kordan denied recent reports on Iran’s decision to reduce oil exports here on Tuesday.
Asked about the impact of the news about Iran’s oil export fall on global oil market, he said: “Different issues can cause instability in the market, as the U.S. economic recession, Lebanon and Syria political circumstances, and some other factors do at present.”
