Iran hails initiatives to catapult oil price

TEHRAN, Sep. 06 (MNA) – President Rouhani of Iran has told OPEC new secretary-general Iran welcomes and will support initiative to stabilize oil markets and set fair quota system for all OPEC members.

Hassan Rouhani received on Tuesday OPEC new Secretary-General Mr. Mohammed Sanusi Barkindo, where he voiced Iran’s dissatisfaction with unfair quotas in the oil production in OPEC basket, believing that the situation would damage all member states; “instability of price and reduced production are among the immediate issues to be addressed by OPEC, in attempts to bring fairness to the quota system and catapult prices in international markets,” he said.   

Rouhani believed that OPEC should pursue a single important objective of creating balance in quota system, to which Mr. Sanusi replied with complimentary remarks; “Iran’s role as supporting the OPEC and instilling strength and prestige to the Organization is laudable; we believe all member states should work in harmony to face challenges ahead and to secure mutual interests of all members,” said OPEC new chief. “We are unanimous in the issue of fairness of quota and believe only in this condition could we solve all problems within OPEC; we also hail Iran’s great steps forward in diversifying her economy through developments in oil and gas sector despite existing challenges; this is a feat of excellence in such a short time after JCPOA,” he concluded.


News Code 119550


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