In recent months, it’s been difficult to hear any positive statements coming from Iran’s troubled oil sector, particularly since President Trump decided in May to reinstate tough sanctions over what he sees as Iran’s non-compliance with the 2015 nuclear accord it reached with the U.S. and other western powers. However, Iranian Oil Minister Bijan Zanganeh praised OPEC on Saturday over what he claimed was the oil-producing cartel’s ability to reach an oil output agreement despite intense internal political differences. On December 7, the so-called OPEC+ group of producers, which includes production heavyweights Saudi Arabia and non-OPEC member Russia, agreed to trim production by 1.2 million b/p for six months, starting in January, with the deal to be revisited in April. The move is intended to drain down global oil markets amid supply worries as the U.S., Saudi Arabia and Russia, the world’s top three oil producers, pump at record […]