Iran to veto OPEC’s proposal on supple boost
(VOVWORLD) - Iran’s representatives to the Organization of Petroleum Exporting Countries (OPEC), Hossein Kazempour Ardebili, said Iran along with Venezuela and Iraq will veto Saudi Arabia’s proposal to increase oil production in Friday's meeting in Vienna.
 Iran along with Venezuela and Iraq will veto Saudi Arabia’s proposal to increase oil production in the June 22 meeting in Vienna. (Photo: VNA) |
Ardebili told reporters that if Saudi Arabia and Russia want to increase production, this requires unanimity, saying that if the two want to act alone, that’s a violation of the cooperation agreement. He added that 3 OPEC founders will stop Saudi Arabia and Russia’s action.
OPEC members are set to meet on Friday in Vienna to discuss their proposal to end OPEC and non-OPEC deal which led to balancing the oil market and increasing oil prices.