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OPEC Head Meets Iran oil Minister in Tehran

Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammed Sanusi Barkindo met with Iran’s Oil Minister Bijan Namdar Zanganeh, SHANA reported Sept. 6.

Barkindo earlier left Qatar to Tehran to discuss oil freeze issue. Qatar’s Prime Minister Sheikh Abdullah Bin Nasser met in Doha with Barkindo Sept. 5 and discussed the oil market and other related issues, OPEC’s official website reported.

OPEC members will meet on the sidelines of the International Energy Forum (IEF), which groups producers and consumers, in Algeria on Sept. 26-28. Zanganeh had earlier confirmed that he would take part in the upcoming meeting, aimed at a “common action” to support the global oil prices.

Iran’s oil output stood at 3.9 million barrels per day (mbpd) before sanctions brought it down to 2.8 mbpd. The output now stands at 3.7 mbpd. Saudi Arabia and some other countries used Iran’s partial absence from the market under sanctions to export beyond their OPEC quotas, with a result that the OPEC output for July stood at 33.69 mbpd while the official ceiling is 30.45 mbpd.

Source: trend