Iran allows Russia’s early leaving from OPEC+ deal

Beijing. March 15. Silkroadnews - Russia, taking part in OPEC+ deal on oil production cut, may leave the agreement earlier, Iranian oil minister Bijan Namdar Zanganeh said on Thursday, the Iranian Telegraph Agency (IrTAG) reports.
Being a member to OPEC Iran also participates in the agreement.
When asked if the OPEC is going to prolong the agreement after 2018, the minister said that Russia can leave the OPEC output cut deal, as it has no commitment to stay with it by the end of the year and then OPEC may choose to alter the plan accordingly.
Russia, along with Saudi Arabia, is a key participant in the deal, TASS notes. Both countries have the biggest production cut commitments - minus 300 thousand and minus 468 thousand barrels compared to October 2016. Earlier, Russian Energy Minister Alexander Novak said when the market is being balanced in the second half of 2018, the agreement could be amended.