Iran's Oil Minister Meets with OPEC President in Vienna
Iranian Oil Minister Bijan Zangeneh met with the OPEC President Manuel Quevedo, who is also Venezuelan Oil Minister, in Vienna ahead of the organization’s 176th Meeting later 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 Zangeneh at 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, Shana reported.
Earlier, Zangeneh told reporters in Vienna that he had no problem with output cut, slamming "unilateralism" as the biggest problem in the Organization.
"I have no problem with a production cut. The main challenge to OPEC is unilateralism. The members need to discuss and decide together," Zangeneh told reporters.
"It hasn't been OPEC’s norm that two people decide outside OPEC and then the organization approves the decision. This is the biggest threat to OPEC.”
His comments came after Russian President Vladimir Putin said at the weekend that Russia had agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil output.
source: Tasnim News Agency
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
