Zangeneh says Iran had no role in oil market instability

Zangeneh says Iran had no role in oil market instability
Minister of Petroleum Bijan Zangeneh said Iran had no role in oil market instability.
He said the Doha meeting was the starting point for both members and non-members of the Organization of Petroleum Exporting Countries (OPEC) to cooperate to restore stability to the oil market.

Noting some OPEC members were from the very beginning opposed to removal of anti-Iran sanctions, he said these countries tried to have the oil prices come down in a bid to put immense pressure on Iran.

The minister said that two million barrels of oil were presently surplus to global demand which contributed in drastic fall of oil prices.

Zangeneh said they falsely imagine that by behaving so they could persuade oil producers that have had no role in this instability.

He said that by accepting oil freezing plan Iran would in practice voluntarily agree to the same sanctions which were eventually removed after years of resistance.

He went on to stress the need for further lobbying among oil producers and said Iran had no role in the present instability prevailing the oil market.

Iran's OPEC Governor Hossein Kazempour Ardebili said on Monday that Iran supports any efforts for stabilization of the oil market and encourages cooperation among the OPEC and non-OPEC members.

Ministry of Petroleum quoted Ardebili as saying that Iran encourages producers to launch collective efforts, including continued consultations, voicing its support for it.
He said the January 2016 Doha session, attended by a number of oil producers aiming to stabilize the output levels , ended after 14 hours of intensive talks without any concrete results.
Apr 19, 2016 12:57
IRNA |

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The section of oil, gas and petro-chemistry is the up-most and first industrial vantage of the country and the pivot of the Economy of Iran. Regarding the importance of this section and the need for coordinating and organizing the most active people in the field of production and exporting oil ,gas, and petrochemical products ,some forethoughtful and job- makers in the private section of the country decided to come together to fight against the threats by using the opportunity of mass intelligence and potentials.