He was reacting to an OPEC directive that its 12 member states are required to produce 30 mb/d of oil altogether without any specific quota for each member.

He gave a negative assessment of OPEC’s policy vis-à-vis falling prices, saying: “The problem with OPEC is that there should be a consensus for any decision and that is the strength and weakness of OPEC.”

“Despite all these issues, presence is OPEC is better,” he said. “OPEC is the only organization in the Third World to have managed to influence world’s economic equations and there is no other such body.”

Zangeneh also referred to falling oil prices and said: “Naturally, oil prices should move forward. Those who pushed the oil price down are more than others under pressure.”

“We have to make efforts so that non-OPEC would also reduce its production because they are not already cooperative enough. Although they are producing losses, but they make no official remarks,” said Zangeneh.