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Iran Official Backs Extension of OPEC Cuts, Dismisses Trump Risk

  • Oil-market rebalancing set to continue, Zamaninia says
  • Trump’s threat over nuclear deal filled with ‘chest-beating’
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Does OPEC Have Any Fight Left in It?

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Iran said it would support an extension of OPEC oil-production cuts to the end of next year, and insisted its own output plans won’t be disrupted by U.S. President Donald Trump.

“We are pleased with the way OPEC has decided to cut some production in order to bring a semblance of balance between supply and demand,” Amir Zamaninia, deputy minister for trade and international affairs at Iran’s Oil Ministry, said Tuesday. “We think that this trend will continue and we will support this trend.”