Jul 1, 2019, 7:07 PM
Journalist ID: 1844
News Code: 83377281
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Iran petroleum min. discusses oil market development in Vienna

London, July 1, IRNA – Iranian Petroleum Minister Bijan Zangeneh in various meetings with his counterparts reviewed oil market development.

The meetings were held before the 176th OPEC meeting in Vienna.

He held talks with energy ministers of Russia, Iraq and head of Libya oil company and energy minister of Alegeria.

In his meeting with the OPEC Secretary General Mohammed Barkindo, Zangeneh expressed concerns over problems outside OPEC.

Earlier, speaking to reporters, he said Iran has no problems to decrease oil production, but the main problem is OPEC unilateralism approach at this juncture.

As a general practice, OPEC requires consensus and consultations in making public decisions and always pursues the same policy, but this is not a general approach that one or two non-members to put seal of approval on their decisions which is deemed a big threat for the OPEC, he said.

OPEC has 14 members and all issues should be examined by them prior to making any decisions, he said, adding that OPEC should be OPEC, but it has been very weak at this juncture.

Recent decision on lowering oil production has been taken in Japan, but it should have been made in Vienna, he said, adding that "we are not here to implement decisions taken out of OPEC, but I believe that if OPEC wants to remain alive, it should make decisions inside the organization, but not to accept any instructions from outside the body".

"If Saudi Arabia and Russia mind to adjust to the OPEC policies, Iran will leave the organization," a reporter asked. The Iranian minister said "No", Iran will not leave OPEC, but believes that the organization will turn into a dead body.

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