Citing World Bank figures on a huge GDP fall 2017-20, Gholam-Hossein Shafei has said the government needs to revise policies to stimulate competition and encourage investment.
22 hours 45 min ago
On the second day of the OPEC summit, Iran agreed to decrease its oil production.
Reuters reported that after Iran reached an agreement with Saudi Arabia, its regional competitor, the Islamic Republic agreed to lower their oil production by 800 thousand barrels a day.
Previously, Bijan Namdar Zangeneh, the oil minister of the Islamic Republic had emphasized that Iran will not agree to decrease oil production as long as the sanctions are in place.
The amount of accepted oil production decrease by OPEC countries is less than expected.
A day before the OPEC summit, president Trump asked OPEC not to lower their production.