The Zhitong Finance App learned that Iran's representative in OPEC said that there is little room for OPEC+ to resume previous production cuts. These production cuts have already triggered a wave of competitive supply in the US shale oil industry. Iran's OPEC+ governor Afshin Javan said: “This price-supporting strategy has actually encouraged increased supply outside of OPEC, particularly the US.” “This will leave limited room for OPEC+ to ease restrictions.”

The Zhitong Finance App learned that Iran's representative in OPEC said that there is little room for OPEC+ to resume previous production cuts. These production cuts have already triggered a wave of competitive supply in the US shale oil industry. Iran's OPEC+ governor Afshin Javan said: “This price-supporting strategy has actually encouraged increased supply outside of OPEC, particularly the US.” “This will leave limited room for OPEC+ to ease restrictions.”