Zangeneh Meets OPEC President in Vienna

TEHRAN, Jul. 01 (MNA) – Iranian Minister of Petroleum Bijan Zangeneh met with the OPEC President Manuel Quevedo, who is also Venezuelan Oil Minister, in Vienna ahead of the organization’s 176th Meeting on Monday.

During the meeting, the two sides talked about the status of OPEC and stressed the fact that no country could impose decisions on OPEC from outside.

“Such behavior is dangerous for OPEC’s life,” said Mr. Zanganeh during the meeting.

He said OPEC was not a political organization but unfortunately, some members wanted to use OPEC as a political tool in line with US intentions.    

The 176th OPEC meeting is set to be held in Vienna later on Monday.

Extending the OPEC+ deal to cut output by 1.2 mbd as well as reducing production by up to 1,800,000 barrels per day are the likely scenarios to be discussed during tomorrow's summit.

The 14 OPEC members will also decide on the new secretary general of the organization; however, most analysts say that Mohammad Barkindo’s post as OPEC secretary general will be extended for another three years.

At the 175th OPEC meeting, 14 members of the organization and their allies decided to reduce their crude oil output by 1.2 mbd to restore the prices and balance the market for a six-month period; a decision that was implemented on January 1, 2019.


News Code 147063


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