Iran’s Oil Minister, OPEC Chief Discuss Recent Developments in Global Oil Market

Iran’s Oil Minister Javad Owji held talks with Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al Ghais on the sidelines of the 7th meeting of heads of the Gas Exporting Countries Forum (GECF) in Algeria.

News ID: ۸۲۸۳۱۹

03 March 2024

EghtesadOnline: During the meeting, the two sides exchanged views on the latest situation of the global oil market, factors affecting the oil market and the key role of oil on the budget of the OPEC member states.

Prediction of crude oil prices for the 2nd, 3rd and 4th quarters of the current year was another topic discussed by the two sides.

They also talked about the geopolitical implications affecting the global prices of oil, the increase of demand for oil in the international market caused by economic growth and the amount of investment in oil projects, SHANA reported.

Owji and Haitham Al Ghais emphasized the OPEC member states' compliance with their commitments at OPEC and OPEC+ (a coalition of OPEC and non-OPEC producers).

Owji accompanied Iranian President Ebrahim Raisi on his visit to Algeria to participate in the 7th meeting of heads of the Gas Exporting Countries Forum (GECF). / Tasnim