OPEC resistance, another failure for US: Rouhani

SHANA – Iranian President Hassan Rouhani said the resistance of members of the Organization of the Petroleum Exporting Countries (OPEC) by lowering their output created another failure for US policies.

Addressing the government cabinet on Monday, Dr. Rouhani said despite US efforts to intervene OPEC affairs and endeavors to create an imbalance in oil supply, fortunately, with the resistance of the member countries and the efforts of the Islamic Republic of Iran and Mr. Zangeneh, their plans were thwarted and another failure was created for the US in its meddlesome policies.

After the meeting of OPEC members and non-OPEC producers on Friday December 7, it was decided that 14 OPEC members and 10 non-OPEC producers including Russia, reduce their daily production by 1.2 mbd to help improve the prices.