Iran has no plans to leave OPEC despite UAE & Saudi tensions

by   |  VIEW 281

Iran has no plans to leave OPEC despite UAE & Saudi tensions

Amid a US sanction on Iranian crude oil aimed to cripple its economy, regional influence and nuclear programs, tensions were spiked higher in Tehran, while UAE and Saudi had pledged to increase production earlier last month in order to cover for sanctioned Iranian oil, underscoring the fractions within the Organization of Petroleum Exporting Countries (OPEC), a 14-nation pact of oil exporters.

Over the narratives of such tumultuous waves shattering the sovereignty and mutual understanding of the oil producing Gulf nations, Iranian oil minister, Bijan Zanaganeh said in a Newspaper interview published on Saturday, the 8th of June 2019, that, Iran had no plans of leaving OPEC despite being treated like an enemy by some of its fellow members.

Adding that two regional countries had been showing enmity towards Tehran, in an interview with the Iranian Parliamentary News Site, ICANA, Zanaganeh said, “Iran has no plans to leave OPEC...and regrets that some members of OPEC have turned this organization into a political forum for confronting two founding members of OPEC, meaning Iran and Venezuela.

And two regional countries are showing enmity toward us in this organization. We are not their enemy but they are showing enmity toward us...and (they) use oil as a weapon against us in the global market and world,” however, the Iranian Oil Minister did not mention the names of two countries.