Mar 06, 2020 22:00 Asia/Tehran [Updated: Mar 07, 2020 11:03 Asia/Tehran]

Iran's oil minister called the joint OPEC and non-OPEC oil ministerial meeting the worst meeting in the organization's history ended on Friday, with no result.

Iran Press/Europe: Speaking to reporters on Friday, Bijan Namdar Zangeneh said the OPEC meeting was one of the "bad" meetings I saw in the organization's history. The meeting was very difficult and almost did not yield results.

He added that the production cuts approved in December were not extended at the meeting. The market needs to reduce production and agreement.

Iran's oil minister said the 6 hours of private talks had taken place, but Russia and Saudi Arabia had failed to reach any agreement. Negotiation should be flexible, otherwise, everybody will suffer.

Zangeneh added that some OPEC members insisted that countries that were not members of the organization participate in the reduction of production and they refused.

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