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OPEC Secretary-General due in Iran to talk oil freeze

Sep 1, 2016, 9:55 AM
News ID: 2488
OPEC Secretary-General due in Iran to talk oil freeze

EghtesadOnline: The secretary-general of Organization of the Petroleum Exporting Countries (OPEC), Mohammed Barkindo, will pay an official visit to Tehran next week to convince Iran to join the oil output freeze plan.

Barkindo is scheduled to visit Tehran Sept. 5 to meet with Iran’s oil minister, Bijan Namdar Zanganeh, an oil ministry official said on condition of anonymity, Mehr news agency reported Aug. 31.

According to ILNA, the oil freeze plan as well as reviewing the market situation and outlook for supply and demand in the oil market are expected to be discussed during the meeting.

OPEC members will meet on the sidelines of the International Energy Forum (IEF), which groups producers and consumers, in Algeria on Sept. 26-28.

Iran's oil minister has confirmed that he will take part in the upcoming meeting, aimed at "common action" to support the global oil prices.

It is expected that the talks on oil production freeze will be held between OPEC and non-OPEC countries.

Iran has been earlier called on by many countries, the rival Saudi Arabia in particular, to cooperate with the proposal to hold outputs at the January levels.

Tehran has rejected the idea as an imposition of a new set of sanctions on Iran after the country was freed of economic sanctions in January.