Tuesday, May 21, 2019   18:59:57
 
Iran Vows Response to Threats From Fellow OPEC Producers

2019-05-03


Iran's petroleum minister said Thursday that his country will respond to any threats by fellow OPEC member states.


Iran is an OPEC member just for its interests and if certain OPEC members want to threaten and endanger Iran, Iran will not refrain from responding to them, Bijan Zangeneh said after a meeting with the visiting OPEC Secretary-General Mohammed Barkindo in Tehran.

He said: I told Mr Barkindo that OPEC is being threatened due to unilateralism by certain members and this organization is likely to collapse.

Zangeneh said he exchanged views with Barkindo about the "oil market, challenges as well as the fragility of the market".

Unilateral Decisions on Iran Ineffective

OPEC Secretary General Mohammed Barkindo said Thursday "unilateral" decisions against Iran would not be effective.

He said after a meeting with Iranian Minister of Petroleum Bijan Zangeneh that OPEC had always made decisions collectively.

He said unilateral decisions by certain member states had already proven to be ineffective, adding that any such approach would continue to remain inefficient.

Barkindo said the presence of someone of Zangeneh stature would not let this ship sink. 

He added that Zangeneh's presence would be valuable under the present circumstances where OPEC members were likely to be affected by geopolitical challenges.

Barkindo said during his meeting with Zangeneh, he had benefited from his "advice".
 
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