Iran announced Wednesday it would resist any plan to limit its oil production, other ministers OPEC tried to persuade the country to join the world's largest oil pact in 15 years.
The talks in Tehran between Iranian oil minister Bijan Zanganeh's and his counterparts from Iraq, Qatar and Venezuela began Wednesday. Iran is the main obstacle to the first OPEC and non-OPEC joint deal in 01 after promising to increase production sharply to regain market share lost during the years of sanctions.
The meeting in Tehran followed an agreement reached Tuesday by the power of OPEC Saudi Arabia and non-OPEC Russia, the two major producers and exporters, to freeze production in January if other major oil nations agree to join
Gulf OPEC producers -. Qatar, Kuwait and the UAE - and Venezuela said they would join the pact, to fight against excess supply growth and help prices recover from their lowest for a decade
"Asking Iran. to freeze its oil production level is illogical ... when Iran was under sanctions, some countries have increased their production and caused the falling oil prices. "OPEC envoy of Iran, Mehdi Asali, was quoted as saying by the daily Shargh Wednesday.
"How can they expect Iran to cooperate now and pay the price?" He said. "We have repeatedly said that Iran will increase its crude production to reach the level of pre-sanctions production. "
the gel plan has not yet managed to push up oil prices because of concerns Iran would not participate and that an agreement would do little to alleviating global glut because it would still allow Russia and Saudi Arabia to keep pumping at near record levels.
Minister of Venezuelan oil Eulogio Del Pino, the Iraqi oil minister Adel Abdel Mahdi and the Minister Qatari Energy Mohammad bin Saleh al-Sada sitting with Zanganeh at 15 hours (1130 GMT).
the sanctions imposed on the nuclear program of Iran, were lifted last month after a deal with world powers for Tehran to resume the sale of oil freely on international markets.
Iran exported about 2.5 million barrels per day (bpd) of crude by 2012, but sanctions that cut about 1.1 million barrels per day. Tehran has promised to increase the supply of about 1 million barrels per day in the next 6-12 months.
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