Iranian MP: Exclusion of Iran from oil production cut is success

Oil&Gas Materials 14 December 2018 20:58 (UTC +04:00)

Baku, Azerbaijan, Dec. 14

By Elnur Baghishov - Trend:

Exclusion of Iran from the OPEC oil production cut is a success for the Islamic Republic, especially the Ministry of Petroleum, its head and its accompanying delegation, said Asadullah Garakhani, a spokesman for the Energy Commission of the Iranian Parliament, who attended the last meeting of the OPEC with the Iranian delegation, Trend reports.

OPEC had to accept Iran’s offer in the last moment, he said.

A US top official participated in the OPEC meeting, he noted, adding that the US wanted reduction in oil prices and in production.

That’s because with the reduction in oil production and decrease in oil prices, Iran’s revenues from oil sales will also decline, he said.

“The US, Saudi Arabia and the UAE sought to reduce Iran’s oil production,” he noted. “This was a serious damage for Iran. The Iranian delegation led by the oil minister held discussions with OPEC and non-OPEC ministers on the sidelines of the meeting. At the same time, some other countries also wanted Iran to reduce its oil production. If this happened, even if the sanctions were canceled afterwards, Iran’s oil production would decrease. However, Iran didn’t admit it.”

Garakhani said that the OPEC had to exclude Iran from the reduction of oil production, taking into account the facts submitted by the Iranian delegation, and that was a great success.