Iran to take chair in 6th OPEC oil market meeting

May 31:

Baku, Azerbaijan, May 31

By Fatih Karimov – Trend:

Iranian Oil Minister Bijan Namdar Zanganeh will chair the oil market stability meeting at the Sixth OPEC International Seminar.

The seminar, June 3-4, will be held with the theme ‘Petroleum - an engine for global development’, in Vienna, Iran’s IRNA news agency reported on May 31.

The event will discuss the global energy outlook, oil market stability, production capacity and investment, technology and the environment, and prospects for the world economy.

OPEC will meet on June 5. At its last meeting in November, OPEC, led by Saudi Arabia, decided against cutting output to defend its market share, resisting calls by some members such as Iran and Venezuela to reduce production to shore up prices.

Iran wants other OPEC members to make way for a rise in its exports if it succeeds in reaching a final deal with six world powers over its nuclear program. A deadline for agreement on the nuclear issue falls on June 30.

Source,:en.trend.az/business/energy/2400785.html?