MOSCOW – Iranian Oil Minister Bijan Namdar Zanganeh has criticized any ‘politicized approach’ in the global oil market, saying it could endanger security of the market.
Speaking on the sidelines of the 14th International Energy Forum (IEF) in Moscow on Thursday, Zanganeh said that politics should not disrupt the balance of the global energy market.
“Energy exporting and consumer countries need to pay attention to market security, and politics should not affect this sector,” he said.
“The (energy) market should be allowed to function away from politics and sanctions,” he added.
Zanganeh said that Iran’s position in the global energy market cannot be overlooked as the country holds the world’s biggest gas reserves and its third oil supplies, according to Press TV.
OPEC will make room for Iran oil
Elsewhere in his remarks, Zanganeh said he hoped OPEC countries would make room for its oil production.
Asked whether he thought OPEC members would cut oil production to make room for Iran, Zanganeh told reporters: “I think they will do it, I am sure they will do it. They have told me directly face-to-face that they will go along with us and make room for Iranians,” Reuters reported.
Zanganeh also said Iran, despite being under Western sanctions, would increase output and exports this year and next, and that over the next three to four years, Iran's mid-term plan was to increase production to 5.7 million barrels per day of oil and condensate.
The 14th IEF wrapped up on Friday. The forum was held with the theme of “Global Energy Security through Dialogue.”
Covering all six continents and accounting for around 90 percent of global supply and demand for oil and gas, the 75-member IEF is unique in that it comprises not only consuming and producing countries of the IEA and OPEC, but also transit states and major players outside of their memberships, including Argentina, China, India, Mexico, Oman, Russia, and South Africa.
The Forum's biennial ministerial meetings are the world's largest gatherings of energy ministers.
Subscribe to our RSS feed to stay in touch and receive all of TT updates right in your feed reader