Oil Minister to Visit Qatar

TEHRAN (Fars News Agency)- Iranian Oil Minister Seyed Kazem Vaziri Hamaneh is due to leave Tehran for Doha, Qatar on Thursday to attend the extraordinary ministerial meeting of the Organization of Petroleum Exporting Countries (OPEC).

During the one-day summit, OPEC ministers are scheduled to study avenues for stopping any further decrease in the world oil prices.

The likely 1-million barrel cut in OPEC’s daily oil production ceiling and the share of each member states of this cut are also among the most important issues to be discussed at the meeting.

Once OPEC members decide to cut their production by one million barrels a day, Iran’s share of the reduction will be 140 thousand bpd.