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Iran will not cut oil output because of sanctions, the Iranian Oil Minister Zangeneh told Reuters on Monday.

Additional Comments:

Will agree to earlier OPEC meeting if members agree to further production cut.

Should be an effort to stabilize oil prices.

This comes after Reuters quotes some sources familiar with the matter on Sunday, saying that the OPEC and non-OPEC’s Joint Technical Committee (JTC) will be having a meeting on February 4-5 to discuss the potential impact of the coronavirus outbreak on the oil market.