News ID: 118720
Published: 0732 GMT May 24, 2015

Iran on good terms with all OPEC members

Iran on good terms with all OPEC members

Iran has good working relations with all members of the Organization of Petroleum Exporting Countries, said Iran's oil minister.

Bijan Namdar Zanganeh added, "We will definitely meet and communicate with all of the organization's member countries," according to Mehr News Agency.

On the probable decision to cut OPEC's production ceiling in the organization's upcoming session, said this is a collective decision requiring the concurrence of all members.

"OPEC does not approve any resolution unless all the member countries agree to it. Given the current market condition, a change in the production ceiling is a remote probability. If the current ceiling is maintained, there will be no major changes in prices."

He underlined that Iran and Saudi Arabia share similar views on many issues which can be used as a basis for further discussions, adding for instance, both countries favor increased OPEC share in the oil market.

The 167th ordinary meeting of the organization will be held in Vienna, Austria, on June 5.

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