5 September 2016 - 18:15
  • News ID: 268529
Zanganeh, OPEC Chief to Talk on Market Conditions, Supply&Demand

TEHRAN, Sept 5 (Shana) – Minister of Petroleum Bijan Zanganeh is to hold talks with Secretary General of the OPEC Mohammed Sanusi Barkindo on Tuesday on oil market conditions and prospect of supply and demand.

The two sides will also exchange views on the non-official OPEC session  that is due to be held in Algeria on September 26-28 on the sidelines of the International Energy Forum.

Barkindo assumed OPEC chairmanship on June 2, 2016, during the 169th OPEC session. 

As the 28th OPEC Secretary General, that's the first time he comes to Iran in the capacity. Prior to assuming the post, he was head of Nigerian National Oil Company. 

Oil price has been on the rise in the past few weeks on the influence of the OPEC non-official session. So, the countries destabilizing the market in the past years, are assumed to play their role well in restoring balance to the market.

Deputy Minister of Petroleum for International Affairs and Trading, Amir-Hossein Zamaninia has newly announced that Iran supports any decision for equilibrium in the market but it will cooperate in that concern if it gains its pre-sanctions quota.

Russian President Vladimir Putin has in an interview with Bloomberg newly supported Iran's output increase and oil exports, saying it will not be justified that Iran will restrict its production immediately after sanctions. 

The OPEC Chief will arrive in Tehran Monday night.
News ID 268529

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