Iran has assumed the rotating presidency of the OPEC for 2025, a sign the country is still a major player in the bloc despite US sanctions seeking to restrict its oil exports.
The ministerial meeting convenes twice a year to review the general affairs of the 12-member OPEC and discuss its key internal matters.
Paknejad said in the meeting that it was an honor for him and Iran as a founding member of the OPEC to assume its presidency at a time when the organization needs more unity to deal with “sensitive and complicated” issues in the global energy market.
The appointment comes several years after the United States imposed a raft of sanctions on Iran’s oil industry, seeking to deprive the country of its export revenues.
The sanctions led to concerns that Iran may lose its position as a powerful OPEC member and a major energy supplier in the world.
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