Reuters has quoted an unnamed source as saying that the Iranian President Hassan Rouhani and Oil Minister Bijan Namdar Zanganeh met with Iran’s Leader Ayatollah Khamenei to get his approval before the recent historic OPEC agreement.
Iran’s media have hailed what is seen at home as the country’s “victory” in multiple-month negotiations with rivals and allies at the Organization of the Petroleum Exporting Countries (OPEC) over a proposed plan to reduce production and boost the prices.
Oil price has surged to one-month high after OPEC agreed to reduce its output by more than 1 million barrels a day.
A senior Iranian lawmaker says Iran has managed to bring OPEC members back to the negotiating table.
Members of Organization of Petroleum Exporting Countries (OPEC) are close to a deal based on which all member states, including Iran, Saudi Arabia, and Iraq are obliged to cut up to 4.5 percent of their oil output.
In an article, Bloomberg has discussed the recent developments in the oil market, particularly the rivalry between Iran and Saudi Arabia.
Iran says it would support any move to stabilize global oil market, but the prices should be set reasonably.
Mohammed Barkindo, the new secretary-general of Organization of the Petroleum Exporting Countries (OPEC) will pay an official visit to Tehran to personally appreciate Iran’s support.
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