Iran General NewsIran says OPEC could accept Russia as member -report

Iran says OPEC could accept Russia as member -report

-

ImageReuters: Iran's oil minister suggested OPEC would accept Russia as a member if Moscow wanted to join the 12-member oil producers' group, the semi-official Fars News Agency reported.

ImageTEHRAN, March 11 (Reuters) – Iran's oil minister suggested OPEC would accept Russia as a member if Moscow wanted to join the 12-member oil producers' group, the semi-official Fars News Agency reported.

Gholamhossein Nozari, speaking a few days before the cartel is due to meet in Vienna on March 15, also reiterated a call for more cooperation between OPEC and non-OPEC countries. Iran is the world's fourth-largest oil producer.

Oil prices have plunged about $100 a barrel since a peak of $147 in July as a global economic downturn hit fuel demand, despite a series of production cuts by the Organization of the Petroleum Exporting Countries in the last six months.

Russia is the world's second-largest oil exporter.

"The ground is ready in OPEC to accept Russia as a new member, but, of course, countries request membership by evaluating and considering their own interests," Fars quoted Nozari as saying late on Tuesday. He did not elaborate.

In December, Russian Deputy Prime Minister Igor Sechin said his country may choose to decide to become an OPEC member in the future as it seeks to broaden cooperation with the group.

"Our message is that non-OPEC (countries) should join OPEC (in helping the market) and we emphasise that a price lower than the current one does not have a justification at all and it stops development," Nozari said, according to Fars.

"It is not logical that OPEC cuts its exports and non-OPEC (countries) pursue their interests," he was quoted as saying during a visit to southwestern Iran.

This month Nozari said he did not expect a further OPEC reduction decision in Vienna after Iran had previously suggested OPEC could impose more curbs. He did, however, call for a mechanism to underpin prices.

The group has already agreed to cut production by 4.2 million barrels per day since September, and a Reuters survey found that members have met 81 percent of their output reductions as of last month. (Reporting by Zahra Hosseinian; Writing by Fredrik Dahl; Editing by Clarence Fernandez)

Latest news

Iran Regime’s Ministry of Culture’s Decision To Eliminate Children’s Intellectual Centers

With the so-called ‘Cultural Revolution’ which took place between 1980 and 1983, the Iranian regime tried to purge the...

Water Shortage Crisis and the Destruction of Iran’s Water Resources

Iran is currently suffering from a number of dangerous natural disasters. One of the most worrying is the drying...

Economic Freedom Under the Rule of the Mullahs in Iran

The Fraser institute published its annual report of the index of economic freedom on September 8, which measured the...

Iran’s Regime Continues Its Internet Restriction Project

This is part of the outlook of a document by the Iranian regime’s Supreme Council of Cyberspace, which has...

Iran’s Human Development Index Dropped Sharply

One of the most common questions asked in primary schools by teachers all over the world is, “wealth or...

Narcotics Iran Regime’s Income Source for Terrorism

Besides Iran’s malign activities, such as its regional interference, and missile and nuclear projects, drug trafficking plays a major...

Must read

Iran fires “long-range” missile in naval war-games

Iran Focus: Tehran, Iran, Aug. 27 – Iran announced...

Iran contacting Arab opposition movements: Clinton

AFP: US Secretary of State Hillary Clinton said Wednesday...

You might also likeRELATED
Recommended to you