The Kremlin is willing to cut some oil exports.
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Iran’s news agency reported that the Soviet Union is prepared to cut oil exports to Western Europe by 100,000 barrels a day in a move to shore up world petroleum prices. The Islamic Republic News Agency, monitored in Cairo, attributed the report to Iran’s oil minister, Gholamreza Aghazadeh, who returned to Tehran from a four-day visit to the Soviet Union. IRNA quoted Aghazadeh as saying the Soviets told him they were prepared to cooperate with production cuts agreed upon this month in Geneva by OPEC in an effort to boost oil prices. He said the Soviets would reduce oil exports to Western Europe in September and October.
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