Iran prevented hike in OPEC output

Iran prevented hike in OPEC output

(ANTARA/Yudhi Mahatma)

Tehran (ANTARA News/IRNA-0ANA) - Caretaker of the Oil Ministry Mohammad Aliabadi said that Iran`s reasoning in OPEC resulted in support of other countries to prevent US achieve its objective of increasing the OPEC`s output.

Aliabadi made the remark at the end of cabinet meeting while addressing media reporters on Sunday evening.

`In the recent meeting of OPEC held in Vienna the three countries of Saudi Arabia, the United Arab Emirates (UAE), and Kuwait tried to put into effect the decision they made last month in their meetings in the US to increase OPEC`s output,` he added.

Aliabadi pointed out that despite the efforts of Kuwait, UAE and Saudi Arabia who act as US coordinator for increasing or reducing OPEC`s output, Iran`s acceptable performance in OPEC prevent a hike in the output.

`Most OPEC member-states agreed with Iran`s strategy which was avoiding an increase in the output,` he added.

Aliabadi said that since the economic growth of the majority of countries, including India and US is negative, it was not a wise decision to increase the output and hence Saudi Arabia and her allies could not succeed in increasing the output.