Iran to vie for OPEC's top post

Iran Materials 4 June 2012 11:09 (UTC +04:00)

Azerbaijan, Baku, June 4/Trend M. Moezzi/

Iran's Oil Minister Rostam Ghasemi will be a candidate for the post of secretary general when the Organization of the Petroleum Exporting Countries (OPEC) holds its 161st conference on June 14.

Ghasemi's counterparts from Saudi Arabia, Iraq and Ecuador also plan to run for the post, Fars news agency reports.

Iran will oppose increasing OPEC's production ceiling when the organization's 12 member countries meet in Vienna, Ghasemi said.

Developments in the oil market will be another subject for discussion and review.

OPEC's meeting coincides with a sharp drop in world oil prices caused by the economic crisis in Europe and the United States. The organization's oil basket price is under $100 a barrel.