Oil minister due in Vienna for 164th OPEC meeting

Tehran, Dec 2, IRNA – Oil Minister Bijan Namdar Zanganeh will leave Tehran for Vienna on Tuesday to take part in the 164th Ordinary ministerial meeting of the Organization of Petroleum Exporting Countries (OPEC) on December 4 in Vienna, Austria.
During Wednesdayˈs session, the ministers responsible for oil from the 12 OPEC member countries will review the situation of the international oil market, in the light of the current crude prices.

In view of the current prices, the meeting is expected to go smoothly, with no relevant changes in the organization’s daily production of 30 million barrels.

Another matter that might take the attention of the ministers is the election of the new OPEC Secretary General to replace current El Badrid of Libya.

With a daily production of 1.7 million barrels, Angola is currently Africaˈs main oil producing country, only second to Nigeria.

OPEC founded in 1961 in Bagdad (Iraq) provides a significant portion of the oil used around the world.



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