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Iranian petroleum minister: OPEC not an American organization

Petroleum Minister Bijan Zangeneh said Organisation of Petroleum Exporting Countries (OPEC) is not an 'American association'.

Iranian petroleum minister: OPEC not an American organization
(Wednesday, June 20, 2018) 09:48

Speaking to reporters upon his arrival in Vienna to attend a meeting of OPEC, Zanganeh said oil should not be utilized as a 'weapon or a political tool against other countries', reported Bloomberg.

He also expressed doubt that the OPEC meeting in Vienna would end with consensus among the participating members.

Iranian minister said a deal to phase out OPEC production curbs after oil prices rose is unlikely to be reached and isn’t needed as the recent rally was partly triggered by US President Donald Trump.

Zangeneh is to participate in the 7th International Seminar and 174th meeting of OPEC in Vienna.

The 7th International Seminar is to be held in Vienna on June 20-21, 2018 in the presence of senior officials and representatives of governments, companies and scientific circles.

The main motto of the seminar is 'Oil, Cooperation for sustainable future'.

OPEC 2018 Awards for research and journalism is to be granted in this event.

Also, the 174th OPEC meeting is to be held on June 22, 2018 in Vienna.

Observers believe that this meeting would be one of the most challenging sessions in recent years because of US president's request from a number of OPEC member states to increase oil production.

Member states of OPEC in their meeting in November 30, 2016 decided to freeze their production on 32.5 million barrels a day and this decision was implemented in January 2017 and was extended in the next meetings.

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