Iran has sent positive signals that it will sign an oil production agreement hiking its production limit and giving parity to its adversary Iraq, OPEC President Rilwanu Lukman said Saturday.
"I would say I am optimistic," the Nigerian president of the Organization of Petroleum Exporting Countries told reporters.Without elaborating, Lukman said he had received "positive signals" from Iran that it will go along with the agreement designed to bolster sagging oil prices.
Iranian Oil Minister Gholamreza Aghazadeh said Thursday the new agreement would grant Persian Gulf adversaries Iran and Iraq the right to produce 2.64 million barrels a day each within an overall OPEC ceiling of 18.5 million barrels per day.
Iraqi Oil Minister Issam Abdul Raheem Al-Chalabi, having achieved the major demand of parity with Iran, accepted the agreement.
The Iran-Iraq dispute had threatened to scuttle the OPEC winter conference which began Monday in Vienna. A full session of the meeting, originally scheduled for 7 p.m. Saturday, was postponed until Sunday at last minute, the OPEC secretariat said.
Aghazadeh returned to Tehran Friday to consult with his government on conceding parity to Baghdad and was to meet with Iranian strongman Ali Akbar Hashemi Rafsanjani and President Ali Khamenei Saturday evening.