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Iran says help of non-OPEC oil states needed

Iran wants non-OPEC oil producers to coordinate with the group amid a global economic meltdown that has left oil prices about 70 percent below mid-July highs of $147 per barrel.
/ Source: The Associated Press

Iran wants non-OPEC oil producers to coordinate with the group amid a global economic meltdown that has left oil prices about 70 percent below mid-July highs of $147 per barrel.

The official IRNA news agency on Sunday quoted Gholam Hossein Nozari as saying Organization of Petroleum Exporting Countries members have "almost" completely complied with earlier cuts totaling 4.2 million barrel per day to try to balance the oil market.

But Nozari says given current economic woes, coordination between OPEC and others "is necessary."

The bloc has tried before to secure output cut pledges from Russia, the largest non-OPEC producer.

OPEC is scheduled to meet March 15 in Vienna. Iran says no new cuts are expected from the meeting.