HomeMagazine2016March 2016, Vol. 243, No. 3Russia: Iran Wants to Restore Oil Output Before Capping It

March 2016, Vol. 243, No. 3

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Russia: Iran Wants to Restore Oil Output Before Capping It

MOSCOW (AP) — Russia’s energy minister says Iran would consider joining a global deal to cap oil production only after it restores its output back to levels it enjoyed before international sanctions. Alexander Novak made the statement Monday after talks in Tehran with his Iranian counterpart. Russia has been in talks with OPEC countries on putting a cap on oil output in order to boost global oil prices. Novak said in remarks carried by Russian news agencies that a meeting between Russia and OPEC countries on an oil production cap could take place in April, but the date hasn’t been set yet. Novak said that while Iran generally supports the idea, it believes that it first needs

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