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Iran Oil Minister Certain that oil prices will rise

Iran's oil minister said that he was confident the OPEC and non-OPEC members would commit to the output cut deal agreed in November, noting that prices of oil would rise further as a result.

"I am certain that the OPEC and non-OPEC members will cut oil output as committed. This will remove the oil surplus from the market, balance the demand and supply, and lift prices," Bijan Namdar Zanganeh was quoted as saying by the Mehr news agency.