Iran May Withdraw From OPEC
October 19, 2003 - 0:0
TEHRAN (Mehr News Agency) – Iran may follow Norway in its policies toward OPEC and, if necessary, it will leave the organization headquarters to improve its position in the world oil market, Deputy Minister of Oil for Economic Affairs Mas’oud Nili said here Saturday.
“Iran should do what is mostly in its favor,” Nili added.
Considering a long-range outlook, countries with more oil production capacity would gain most from oil exchanges in the market, he said.
Nili also said Saudi Arabia has always adapted itself with any changes in the market due to its additional oil reserves.
The Iranian oil ministry is planning to develop temporary oil resources to stand firm in the world market, he stated.