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Iran does not agree with holding any OPEC+ meeting without having a “clear and consensual outcome” to the oil market, Reuters reported, citing a letter seen from Iran’s Oil Minister Bijan Namdar Zangeneh.

Additional quotes

 “Vague circumstances” around upcoming OPEC+ meeting is “of grave concern to me”.

Absence of any clear outcome to oil market is “a failure message” even before OPEC+ meeting starts which may aggravate current low oil prices further.

The volume of oil production cut and duration, output cuts by US and Canada, baseline level and distribution of cuts should be addressed before OPEC+ meeting.

Oil prices rebound in Asia

Both crude benchmarks keep their recovery gains intact amid hopes of OPEC+ output cuts, with WTI trading around 25.00 while Brent holds above 32.50.