According to the Greek ENERGIA website, the Iranian State News Agency (IRNA) quoted Iranian Oil Minister Gulam Hussein Nazari as saying on September 2 that the Organization of Petroleum Exporting Countries (OPEC) must “control†its members’ incontinence. Crude oil supply.
Nuzhary said that oil supply and oil demand should be proportionately appropriate. The control of OPEC’s unregulated oil supply is an important issue to be discussed at the OPEC ministerial meeting to be held on September 9.
According to the IRNA news agency, the oil ministers of the 13 member states of OPEC will hold a formal meeting on September 9th at the OPEC headquarters in Vienna, Austria, to study the production policy of the organization in the last few months of this year.
Nuzhary said that some members of OPEC have produced oil without restraint and their oil production has far exceeded the output quota OPEC has set for them.
Nuzhary added that Iran will demand that OPEC’s over-producing member countries stop their uncontrolled oil supply at the September 9 meeting.
Saudi Arabia, the largest oil producer in OPEC, said in June this year that it would increase its daily output of crude oil from 9.45 million barrels to 9.7 million barrels. As a result of the increase in production in Saudi Arabia and
Other member countries and the decline in world oil demand, international oil prices fell from the US$147.27 per barrel at the highest record in July to the current level of around US$107.
Iran is the second largest oil producer in OPEC, second only to Saudi Arabia.
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