Jul 5, 2019, 6:25 PM
Journalist ID: 1853
News Code: 83381645
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US movements thwarted with OPEC new decisions

Tehran, July 5, IRNA – The 176th meeting of the Organization of the Petroleum Exporting Countries (OPEC) with the presence of Bijan Zangeneh, Iran's Petroleum Minister, opened in Vienna with the agenda for reducing oil production at the permanent headquarters of the organization and the domestic media considered the new decisions of the meeting will lead to neutralize the US moves.

The OPEC summit with the presence of ministers from 14 OPEC member countries began on Monday and continued until Tuesday.

The meeting was held under the shadow of sanctions against Iran's oil exports and, of course, oil prices fluctuations in recent months, and producers' efforts to balance prices by their decisions. The meeting ended with the final statement of the 176th OPEC Summit released Tuesday, extending the agreement to reduce oil production for another 9 months, ratifying the text of the draft OPEC and Non-OPEC Charter of Cooperation and extending Secretary General Mohamed Barkindo’s presidency for a three-year period.

The survey of news agencies, newspapers and Internet sites that reformist media have been commenting on the neutralization of US moves: “The United States has pursued a policy of disrupting OPEC in various ways, including influencing OPEC and exerting pressure on some member states that have a history of strategic alliance with, like Saudi Arabia and the United Arab Emirates, but it has not been successful in this regard due to the conflicting interests of its allies with the United States in the economic and sometimes political sectors.”

"The renewal of the agreement on the reduction of oil production," "the decline of oil prices in spite of the decision of OPEC," "the decision on the future of oil in Osaka instead of Vienna", "anti-OPEC measure of government of Trump", "the interests of OPEC member states in support of oil prices" , "a dramatic decline in Saudi Arabia production," and the "Final Statement of the 176th OPEC Summit", are the axes used by this media current.

Media affiliated to conservative camp also wrote, “OPEC members agreed on Monday to overcome their disagreements to extend their production cuts by March 2020 to boost oil prices in a context where the world's economy is weakening and the US oil production is growing.

The move will probably make US President Donald Trump angry. The decline in oil production and the words of the minister of oil are among the main reference of this media spectrum.

According to the reformist media, it was expected that Zangeneh, like previous periods, could thwart a political scenario by member-states such as Saudi Arabia; oil prices in today's global trading were lowered by OPEC's decision; the decision on future of oil in Osaka instead of Vienna is one of the issues that threatens OPEC; the United States has opposed OPEC's policies in various ways, including pressure on some member states; Iran's position has pushed many nations to sit behind Iran’s negotiating table.

“Zangeneh Resistance" is the title of a report by Etemad newspaper. We read, “OPEC's 176th Summit is the strangest meeting in OPEC history. Deciding on the future of oil in Osaka, instead of Vienna, is one of the issues that threatens OPEC; a subject that Bijan Zanganeh has criticized severely as a beginning to undermine OPEC's strength. Developments in the oil market and the advancement of the US have created a new situation in this market, and in these circumstances, changed the role of OPEC and non-OPEC producers. Changing these features is a new beginning for OPEC; a route that may lead to a further weakening of OPEC by Saudi unilateralism or, with the accompany of all its members, add new actors to its decision-making mechanisms.

The “Sahrq” Daily reports that the United States continues to pursue the policy of neutralizing OPEC in various ways, including influence in OPEC, and exerting pressure on some of the member countries that have a history of strategic alliance with it, such as Saudi Arabia and the United Arab Emirates, but because of the conflict of interest, the US government has not succeeded in dealing with allies in the economic and sometimes even political sectors, so Trump government's anti-government moves are still active and may be aggravated in the future due to the presence of some non-oil countries. But the cause of the weakening of the OPEC is not just the United States; there is a real risk to OPEC, not from the United States who made disruption from the beginning of organization, but it is mainly a threat from some member states that, knowingly or unknowingly, due to the temporary political interests have jeopardized OPEC's record, credibility and position on the international scene.

The sustainability of OPEC and its continuing presence in the global arena, in accordance with the interests of its traditional members, lies in preserving its organizational structure and unity, something that some members have neglected in recent months.


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