6 Jan 2025
Wednesday 12 December 2018 - 14:28
Story Code : 330378

OPEC oil output cut exemption a victory for Iran

December 12, The Iran Project -�The�success made by Iran to be exempted from oil production cuts in�the 175th meeting of members of the Organization of the Petroleum Exporting Countries (OPEC) considered as�a victory for the country's petroleum diplomacy.

Following 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 in a bid to raise crude prices.�However, Friday's deal exempted Iran, along with Venezuela and Libya.

On Sunday (Dec. 9),�Iran's President Hassan Rouhani called a decision by OPEC and other oil producers on Friday to cut output a rebuff for a US �policy of meddling�, saying���Despite US attempts to interfere in OPEC affairs and prevent a balancing of oil supply, fortunately with the resistance of member states and the efforts of Iran and Mr. Zanganeh (Iranian Oil Minister), this plan was neutralised and there was a defeat for America�s policy of meddling."

Also,�Salam Amini, a member of the Iranian parliament�s energy committee, stated that the outcome of the 5th Joint OPEC-non-OPEC Ministerial Monitoring Committee (JMMC) and Iran�s exemption of any production cut programs by OPEC and non-OPEC producers were a victory of Iran.

�I was present in the meeting and witnessed how the Iranian Minister of Petroleum and his accompanying delegation defended the rights of the Iranian nation,� the MP, who accompanied the Iranian delegation to JMMC in Vienna, said.

Meanwhile,�In an interview with Press TV, Dean Henderson, a political commentator, said that �there is probably a victory for Iran really to get the exemption because of the medieval sanctions that have been placed on it by the United States; so, Iran comes out of this in pretty good shape.�

The fact that Iran got the exemption shows the Iranians could come to the top at the OPEC, while Saudi Arabia�s influence on the organization did not allow other member states to have their voice heard, Henderson noted.
https://theiranproject.com/vdcd5z0sjyt0ss6.em2y.html
Your Name
Your Email Address