Before OPEC members sat down to wrangle about production quotas and compliance on Thursday, the oil minister of Iran—exempted from the ongoing cuts because of the U.S. sanctions crippling its production and economy— said that the Islamic Republic would not agree to any cuts in the future, once the sanctions are removed. “Speaking on behalf of the Iranian nation, I would say this is the right of our people and nation and I would not agree with cutting even a barrel of oil for illogical reasons,” Iran’s Oil Minister Bijan Zangeneh told reporters before the OPEC meeting on Thursday, which dragged on for hours as members were discussing how to divide the 500,000 bpd deeper cut that the monitoring panel had suggested earlier in the day. Iran, which has seen its own crude oil production drop from 3.5 million bpd to around 2 million bpd in recent months because […]