Iran’s Rouhani says OPEC decision to cut output was defeat for US meddling

Reuters – Iranian President Hassan Rouhani said on Sunday a decision by OPEC and other oil producers on Friday to cut output was a rebuff for a U.S. “policy of meddling”, the state news agency IRNA reported.

OPEC and its Russia-led allies agreed to slash oil production by more than the market had expected, after pressure from U.S. President Donald Trump to reduce the price of crude.

“Despite U.S. attempts to interfere in OPEC affairs and prevent a balancing of oil supply, fortunately with the resistance of member states and the efforts of Iran and Mr(Iranian Oil Minister Bijan) Zanganeh, this plan was neutralised and there was a defeat for America’s policy of meddling,” IRNA quoted Rouhani as saying.

Reporting by Dubai newsroom; editing by Andrew Roche