Iran on Oil Freeze: ‘Leave Us Alone’ Until Production Higher
- Oil minister will talk after output at 4 million barrels a day
- Zanganeh to meet With Russia's oil minister on Monday
Oil Declines as Iran Plans to Boost Output
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Iran plans to boost crude output to 4 million barrels a day, the highest level since 2008, before it will consider joining other suppliers in seeking ways to rebalance the global oil market.
“They should leave us alone” until then, Oil Minister Bijan Zanganeh said, according to the Iranian Students News Agency. “After that we will work with them.” The last time production exceeded 4 million barrels a day was in August 2008, and Iran’s output in February was 3 million barrels a day, according to data compiled by Bloomberg.