OPEC deal showed Iran is still key in politics, economy: Expert

SHANA- Ali Bigdeli, a university lecturer, says the deal Organization of the Petroleum Exporting Countries (OPEC) struck in Vienna on Wednesday proved that Iran is a key country both in the region and the world.

Speaking to Shana, the expert said the OPEC decision to cut production, besides having significant economic outcome for Iran, had political aspects and was an indication of the fact that Iran could clinch the deal by relying on its political prowess.

The university lecturer said Iran has turned from its contractionary political and economic policies in the past to adopting expansionary ones in current circumstances.

The senior expert in foreign policy matters further said that the deal was a major achievement for Iran as well, showing the world that Iran must be regarded as a key factor in political and economic spheres.

“By insisting on its right to reach the pre-sanctions production levels, Iran could even make Saudi Arabia support its cause in the OPEC meeting,” he added.

After months of talks and rounds of meetings, OPEC finally sealed a deal on November 30 to cut production by about 1.2 million barrels per day (bpd), or about 4.5 percent of current production, to 32.5 million bpd.

Two months ago in Algiers an agreement was outlined based on which the OPEC and non-members were obliged to cut their productions in order to stabilize the market.