There is debate over length of OPEC-led oil output cut extension -ISNA

Iran’s oil minister Bijan Zanganeh said Wednesday that OPEC will continue its production curb but there is debate among members about how long it will continue, the Iranian Students’ News Agency (ISNA) reported on Wednesday.

“It could be three, six or nine months,” Zanganeh said.

Zanganeh said Iran will not decrease its own production and that regional rival Saudi Arabia is trying to drive up oil prices, ISNA said.

The re-election of president Hassan Rouhani last Friday helped remove “obstacles” to oil contracts, ISNA quoted Zanganeh as saying.

Zanganeh said he has not yet been asked to serve in Rouhani’s new cabinet.