Iran called on OPEC to cut oil production by 5%

Almaty. April 15. Silkroadnews - Iranian Oil Minister Bijan Zangane called on the Organization of Petroleum Exporting Countries (OPEC) to cut oil production by at least 5% amid falling oil prices, reported Russian media.
Recall, at the end of November 2014 the OPEC countries, in spite of falling oil prices, decided to keep the production quota at 30 million barrels a day, which caused the collapse of oil prices. Reduction in quota by 5% would reduce OPEC production by 1.5 million barrels of oil per day.
B.Zangane previously stated that OPEC will be able to coordinate the production and delivery of oil of its members to prevent another collapse in prices when Iranian oil returns to the market after the lifting of sanctions. He also said that OPEC should discuss the level of production before the next meeting of the organization in June.
Earlier in April, Saudi Arabia, the largest oil exporter in the world, refused to cut production, which reached a record high of 10.3 million barrels a day.