Non-OPEC countries able to eliminate oil shortages

Moscow, Sept 16, IRNA- Russia's energy minister said that non-OPEC oil-producing countries have a high potential for removing oil shortages on the global market.

Alexander Novak added, 'We do not have oil shortages in the market, and oil-producing countries must reduce the demand on the market as well.'

Russia's energy minister noted that the ability of non-OPEC countries could be applied if needed, but not all producers have the ability to increase oil production.

Russia's energy minister has already said that Moscow and Washington, as the foremost energy powers, can only meet with the joint efforts of supplying oil in the face of increasing demand in the global market.

'Russian-American relations are not good in the current situation,' he said. Meanwhile, 'the two countries are major energy powers that guarantee global energy security'.

Novak also said Russia could increase its oil production by 300,000 barrels per day during the year; Russian oil companies have such ability.

Novak said Russia intends to maintain its oil production in September in the country's oil production levels of August and July.

Iran's representative to OPEC Hossein Kazempour Ardebili on Saturday criticized the performance of Saudi Arabia and the UAE in undermining OPEC's position, adding that these actions have left not much credence for OPEC and that the organization is losing its organizational character and becoming an assembly.

Iran's representative to OPEC added that OPEC is responsible for balancing the oil market, rather than imposing a boycott on one or two of its founding members, and it must be committed to balancing the market.

He stated that Article 2 of the Statute of the OPEC emphasizes the protection of the interests of each or all of the member countries, and it is necessary for the organization to support the countries that are subject to unilateral, illegal and cross border sanctions.

The representative of Iran in OPEC said that Russia and Saudi Arabia are struggling on the pretext of balancing the global oil market in pursuit of taking part of Iran's share and on the other hand some OPEC members with joining the US are managed to strike some of the founders of the organization.

Kazempur Ardebili added that the president of the United States is actually trying to prevent Iran from appearing in the global crude oil markets, which has led to hostage-taking by Russia and Saudi Arabia, which tends not to have much to do with low oil prices.

He said that American bullying would certainly not end in Iran or Venezuela, just as it did not end with Iraq and Kuwait, and Iran never ceases its efforts to enforce its rights.


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