Wednesday, July 15, 2020   03:46:55
Zangeneh Satisfied with Talks at OPEC 177th Conference


Iranian Minister of Petroleum Bijan Zangeneh expressed satisfaction at the negotiations between OPEC members on Thursday, announcing an extraordinary OPEC meeting would be held within the next 3 to 4 months.

Following a short stay in the 7th OPEC+ meeting, Zangeneh told reporters that the negotiations were good and favorable results were obtained.

“I think that all the topics will be sorted out between OPEC and non-OPEC in today’s meeting,” he said.

Zangeneh added that OPEC often approached issues in the short-run and there would be an extraordinary OPEC meeting in 3 or 4 months in order to make decisions.

Asked why the OPEC meeting took over 7 hours, Mr. Zangeneh blamed mathematics for the meeting taking too long.

He further said that the final decisions made at OPEC+ meeting would be announced by OPEC secretary general and the president of OPEC conference.

The official also expressed optimism that the production cuts would be increased by half a million barrels per day.

“The OPEC+ meeting will come to an end soon. I think the final decisions will be announced in a few hours,” he said.
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