The latest news and views about Organisation of the Petroleum Exporting Countries (OPEC)
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Iranian Minister of Petroleum Bijan Zangeneh says a US bid to cut Iran’s oil exports to zero is a “pious hope,” warning countries using oil as a weapon about repercussions of further volatility in the global market.
The Iranian oil minister has lashed out at US special representative for Iran Brian Hook over his “meddlesome” meetings with members of the Organization of the Petroleum Exporting Countries in Vienna, asserting that OPEC is an independent body that does not take orders from the US.
Iran says Qatar’s decision to quit the Organization of the Petroleum Exporting Countries (OPEC) shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel that determines production cuts in order to help regulate prices.
Iran’s Oil Minister Bijan Namdar Zanganeh says the US cannot stop the oil price rise and tackle the current shortage in the world’s oil market by bullying other oil producers.
Iran’s oil minister has rejected US President Donald Trump’s remarks that OPEC is to blame for the rise in oil prices, urging Washington to stop trying to hamper Iran’s oil trade if it really wants a drop in global oil prices.