Iran permanent representative to international organizations in Vienna, Kazem Gharibabadi

Iran’s permanent representative to international organizations in Vienna stressed that Tehran will not give up its right to produce and export oil in the post-sanction era.

Iran Press/Europe: Kazem Gharibabadi said on the sidelines of the 177th meeting of the Organization of the Petroleum Exporting Countries' (OPEC) ministers on Thursday that the reduction of oil production share should include those countries that have increased their production under the current conditions.

Gharibabadi pointed to Iran's oil reduction issue as the result of the US sanctions, saying those who seize the opportunity to get Iranian oil out of the market and to produce more oil must compensate for the current further production with less production in the future, Iran Press reported.

"They should not expect Iran to join the system immediately after the sanctions are lifted if any production decrease was needed," the Iranian envoy added.

The 177th summit of the Petroleum Exporting Organization's (OPEC) countries was held on Thursday with the attendance of the 14 member states to make decisions on extension or further reduction of oil production to keep the balance of the price in the coming year.

Both OPEC member states and non-member states (OPEC Plus) agreed at the beginning of the current year to reducing oil production to 1,200,000 barrels per day.

Iran, Iraq, Saudi Arabia, Kuwait, Venezuela, Qatar, Libya, United Arab Emirates, Algeria, Nigeria, Angola, and Ecuador are of the members of the Organization of the Petroleum Exporting Countries (OPEC).

The Iranian Oil Minister Bijan Zanganeh who arrived in Vienna on Thursday said that if the agreement on oil production is extended, it will be an achievement for OPEC; and that if the oil production is further reduced, more is achieved.205/216

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