Iran hails OPEC deal on limiting output as step in right directionOctober 17, 2016 - 16:33 AMT PanARMENIAN.Net - Iran's deputy oil minister says a preliminary agreement by OPEC nations to limit output to between 32.5 million and 33 million barrels per day is a "small step, but in the right direction," the Associated Press reports. Amir Hossein Zamaninia spoke Monday, October 17 in Tehran, after the Organization of Petroleum Exporting Countries reached the deal in late September. The limit is meant to reduce a global glut that has depressed oil prices for over two years. Iran had resisted cutting production. It's trying to restore its oil industry since emerging from international sanctions over its nuclear program earlier this year. Zamaninia says Iran's oil output is 3.85 million barrels per day. Iran has said previously it would only consider a possible ceiling on output after it reaches 4 million barrels per day, its pre-sanctions level. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Russia provides info about arrested Armenian ex-MP Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan. Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”. 41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience. Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. |