A recent article in The Globe and Mail summarizes the stances of five major oil-producing nations following the proposed output freeze agreement between the OPEC countries and Russia earlier this week.
Of particular interest is the response from Iran, currently the fifth largest oil producer in OPEC. The deal’s success relies upon large exporters, including Iraq and Iran, joining the agreement. However, following the lifting of international sanctions on its exports, Iran’s ministry plans to “increase daily exports by one million barrels this year,” a move that would bring Iran back to its 2010 production level of 3.8 million barrels a day.
Perspectives from Iraq, Kuwait, Azerbaijan and Norway are also summarized.
Click here to read the full article from The Globe and Mail.