Novak, Zanganeh to Meet in Tehran

Russian Energy Minister Alexander Novak is scheduled to meet Oil Minister Bijan Namdar Zanganeh in Tehran on Tuesday, Oil Ministry’s news agency Shana said Saturday. Novak will travel to Tehran as the head of a Russian delegation for the 13th session of Iran-Russia Joint Economic Commission which will be held on Dec. 11-13. The meeting between the oil ministers of world’s biggest oil producer and OPEC’s third-largest producer will take place days after a gathering of OPEC countries and non-members in Vienna on Saturday to discuss supply cuts as part of an OPEC-led effort to reduce crude output and lift prices. OPEC has committed to cutting its collective supply to around 32.5 million barrels a day with non-OPEC countries expected to scale back production by another 0.6 million barrels. Moscow has said it will slash production by 300,000 barrels, probably starting from March 2017.