What oil-producing countries think of Opec’s big freeze
LONDON — Saudi Arabia and Russia, the world’s biggest crude oil producers, joined Venezuela and Qatar in an agreement to freeze output in an effort to revive prices from a 12-year low. Whether the deal succeeds will depend on Iran, Iraq and other large exporters joining in. This is what some of the world’s biggest producers said after the deal:• Iran, unshackled from sanctions last month, "will not forego its share of the market", oil ministry news service Shana reported, citing Oil Minister Bijan Namdar Zanganeh. He will meet his counterparts from Iraq and Venezuela in Tehran on Wednesday.Iran is the fifth-biggest producer in the Organisation of the Petroleum Exporting Countries (Opec), pumping 2.86-million barrels a day last month. It was producing 3.8-million barrels a day in 2010, before global sanctions were imposed on exports. Iran plans to increase daily exports by 1-million barrels this year.• Iraq, Opec’s second-largest producer, was ready to join Saudi Arabia in freezing o...
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