Mohsen Paknejd, the Iranian oil minister, was elected as the rotating president of the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday.

According to The Iran Project, Iran will assume the rotating presidency of the Organization of Petroleum Exporting Countries.

Mohsen Paknejad, Minister of Petroleum of the Islamic Republic of Iran was elected as the new president of the OPEC for next year.

The decision was made during 189th (Ordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) which convened today, under the Chairmanship of its President, HE Marcel Abeke, Minister of Petroleum of the Gabonese Republic and Head of its Delegation.

Therefore, Paknejad will replace Abeke. 

Addressing the conference, the Iranian minister said that OPEC continues cooperation with non-OPEC partners, adding that "We are all well aware of the sensitivity and complexity of the current global situation and the importance of maintaining OPEC's internal unity and cohesion, while also continuing engagement and cooperation with our Non-OPEC partners under the framework of Declaration of Cooperation."