OPEC meeting to discuss Saudi Arabia’s oil oversupply, says Iran

By Giwa SHILE

The upcoming meeting of the Organisation of the Petroleum Exporting Countries (OPEC) will discuss the crude oversupply by Saudi Arabia, Iran’s oil minister said on Wednesday.

“The issue of Saudi oversupply is among the topics that would be discussed in the forthcoming OPEC meeting,’’ Bijan Namdar Zanganeh was quoted Iran’s PetroEnergy Information Network as saying.

“The OPEC member states should probe into the reasons behind Qatar’s withdrawal from the cartel, as some oil producers have created problems for Qatar,’’ Zanganeh added.

The Iranian minister also ruled out the possibility of discussing the quota of Iran’s oil output in the next OPEC meeting.

“As long as Iran is facing the U.S. sanctions on oil sales, the discussion on the quota of Iran’s output is out of the question,’’ he noted.

Hossein Kazempour Ardebili, Iran’s OPEC governor, has said earlier that Qatar’s decision to quit the OPEC shows frustration of small crude producers with the dominant role of Saudi Arabia in the oil club.

Related posts

Leave a Comment