Zanganeh says will negotiate with Saudi oil minister in OPEC meeting

May 25, 2015 - 0:0

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said on Sunday that he will negotiate with his Saudi Arabian counterpart in the upcoming OPEC meeting, as Iran is not in a sulk with any of the group's members.


Zanganeh said Iran and Saudi Arabia share common views in many areas in OPEC. “For instance, both countries are willing to boost OPEC share in the market.”

Iran and Saudi Arabia are at loggerheads over Riyadh’s air raids on Yemen, calling the attack a big strategic mistake and demanded the Saudi government to immediately end the attack on its small and poor neighbor.

Elsewhere in his remarks, Zanganeh said OPEC is unlikely to change its production ceiling when the group meets in June.

“Lowering OPEC production ceiling requires consensus between all members. Under current conditions it seems unlikely that the OPEC production ceiling will change,” the Mehr news agency quoted Zanganeh as saying.

OPEC members will meet in Vienna on June 5. At its last meeting in November, OPEC led by Saudi Arabia, decided against cutting output to defend its market share, resisting calls by some members such as Iran and Venezuela to reduce production to shore up prices.

OPEC pumped 30.93 million barrels of crude oil per day in April, well above the 30 million bpd ceiling which has been in place since the beginning of 2012.

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