Oil Ministers Back Raising Output Despite Iran’s Walk Out – Bloomberg

OPEC and its allies reached a preliminary agreement in the face of strong opposition from Iran to boost production by a theoretical 1 million barrels a day — the actual increase will be smaller as several countries are unable to raise output.

In a night of drama in Vienna, the Joint Ministerial Monitoring Committee, which recommends policy to the group, reached an agreement despite Bijan Zanganeh, the Iranian oil minister, walking out of the meeting and predicting OPEC won’t reach a final deal when it meets formally on Friday

Continue reading www.bloomberg.com/news/articles/2018-06-21/opec-ministers-back-raising-oil-output-despite-iran-s-objection

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