OPEC secretary general says will welcome Iran back to the oil market when sanctions lifted - ForexLive
OPEC secretary general says will welcome Iran back to the oil market when sanctions lifted | Forexlive
OPEC's Secretary General Haitham Al Ghais visited Iran and spoke with the Iranian oil ministry's website SHANA on Monday.
He affirmed that OPEC will welcome Iran’s full return to the oil market when sanctions are lifted. While Iran is a current OPEC member its exports of oil are subject to US sanctions aimed at limiting the country's nuclear programme.
- "We believe that Iran is a responsible player amongst its family members, the countries in the OPEC group. I’m sure there will be good work together, in synchronization, to ensure that the market will remain balanced as OPEC has continued to do over the past many years,"
With the OPEC+ meeting coming up on 4 in Vienna Ghais added:
- "In OPEC...we don’t target a certain price level. All our actions, all our decisions are made in order to have a good balance between global oil demand and global oil supply."
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From earlier re OPEC+ and oil:
ICYMI: Oil - Wall Street Journal says "Tensions are rising between Saudi Arabia & Russia"
Russian Deputy Prime Minister Novak tries to walk back earlier OPEC comments
UBS on Novak's oil blooper Thursday
Related Knowledge Center: ENERGY BASICS: petroleum
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