Oil minister from country newly freed of sanctions says limiting production would have ‘no benefit’ and calls instead for quotas but doubts deal will be struck
Iran’s oil minister has rejected suggestions Opec will agree a production cap at a meeting due to take place in Vienna, saying his country backs a return to a national quota system.
Tehran, which only recently returned to world oil markets after western sanctions were lifted, has opposed any attempt to limit output to support weak crude prices.
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