June 5, 2013 (TSR) – Iran’s oil minister shrugged off the effects of sanctions on its oil industry on Friday, noting that a drop in crude exports was being made up for by international sales of gasoline and other refined products.
Iran pioneering OPEC oil production cuts
Iran has been pioneering the reduction of oil cuts, along with Venezuela and Algeria ahead of OPEC 163rd session in Vienna.
During his recent interview with MNA, Rostam Ghasemi, Iran’s Oil Minister, announced calling for reducing OPEC oil production to stop the free fall of the black gold prices.
Soon after arrival to Vienna, he had a behind-closed-doors meeting with Youcef Yousfi, Algerian Energy and Mines Minister and Rafael Ramirez, Venezuela’s Oil Minister, on the three countries’ common positions on oil policies.
Kuwait’s oil minister as the most strategic ally of the Saudi Arabia, has resigned on the eve of the summit, while it is holding the rotating presidency of OPEC in 2013.
Meanwhile, Gholam Hossein Nozari, Iran’s nominee for the post of secretary general of OPEC in a recent interview with MNA said: “If oil prices continue to fall below $ 100, OPEC will review this issue in Vienna’s meeting.”
Ghasemi reiterated in his interview with MNA that the current world oil prices were low and rejected the falling Iran’s standing in OPEC, and said that “from the Islamic Republic’s point of view, $100 price is the bottom pricing for world oil market.”