Iranian Oil Minister Bijan Zanganeh urged the Organization of the Petroleum Exporting Countries (OPEC) to support Iran, the OPEC’s no. 3 oil producer, against the new US sanctions, in a letter seen by Reuters. Zanganeh noted: “I would like to … seek OPEC’s support in accordance with Article 2 of the OPEC Statute, which emphasizes safeguarding the interests of member countries individually and collectively.” Zanganeh also suggested in the letter that Iran was not in agreement with some OPEC ministers’ recent comments on the oil market. He added some OPEC ministers “have implicitly or unwittingly spoken for the organization, expressing views that might be perceived as the official position of the OPEC.” Further details: Zanganeh’s letter was addressed to the United Arab Emirates (UAE) Energy Minister Suhail al-Mazrouei, who holds OPEC presidency in 2018. Zanganeh also said that if the latest US sanctions threat was resolved “Iran reserves the right to return to its oil market share in the shortest possible time and resumes its normal production-level and will not accept any limitations in this regard.” Zanganeh asked Mazrouei to include a separate agenda item for the June OPEC meeting entitled “OPEC Ministerial Conference support to the Member Countries that are under illegal, unilateral and extraterritorial sanctions.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: Puts gain value despite the corrective rally, eyes Eurozone CPI FX Street 5 years Iranian Oil Minister Bijan Zanganeh urged the Organization of the Petroleum Exporting Countries (OPEC) to support Iran, the OPEC's no. 3 oil producer, against the new US sanctions, in a letter seen by Reuters. Zanganeh noted: "I would like to ... seek OPEC's support in accordance with Article 2 of the OPEC Statute, which emphasizes safeguarding the interests of member countries individually and collectively." Zanganeh also suggested in the letter that Iran was not in agreement with some OPEC ministers' recent comments on the oil market. He added some OPEC ministers "have implicitly or unwittingly spoken for the organization, expressing… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
