Jul 2, 2019, 10:06 AM
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Zangeneh: Iran exempted from reducing oil output

London, July 2, IRNA – Iranian Oil Minister Bijan Zangeneh said that Iranian demands were fulfilled in the 176th OPEC meeting in Vienna, saying that Iran has been exempted from reducing oil output.

Speaking to reporters, Bijan Zangeneh said fortunately all modifications have been made with regard to OPEC and non-OPEC cooperation charter, adding that the decisions are non-binding.

OPEC meeting final statement reiterated that the charter will have no effect on OPEC operational decisions and mechanisms, he said.

He went on to say that decisions should be made for financial sources issues in order not to put new pressure on OPEC.

He predicted that the Iranian government will not oppose the charter, adding that the OPEC-non-OPEC charter is voluntary and non-binding.

The cooperation is aimed at creating a mechanism for maintaining cooperation between OPEC member states and the non-OPEC oil producers.

The OPEC ministers on Monday agreed to extend of oil output cuts for another 9 months.

A paragraph was also added to OPEC-non-OPEC charter on long-term cooperation will fulfill Iran's demands.

Earlier, Iran’s representative to international organizations in Vienna Kazem Gharib-Abadi warned against “foreign powers influence” on the OPEC decision making as the entity meets to discuss further global oil output cuts.

“The US has taken coercive and unilateral measures about some OPEC members such as Iran and Venezuela to follow its own interests there,” he added.

Gharib-Abadi warned that without Iran’s backing, none of the OPEC’s decisions has been implemented so far.

“The Iranian oil minister said before the OPEC meeting that his country will not accept any decision that has been taken outside it and imposed on the body,” he added.

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