Iran: Tehran leads on Opec quota resurrection
Issue 995
- 19 Jun 2015
| 1 minute read
Iran’s attempts to get the Organisation of the Petroleum Exporting Countries (Opec) to bring back export quotas point to considerable ambitions for restoring National Iranian Oil Company (NIOC)’s production once sanctions start to lift (as well as being another point of contention with Saudi Arabia). On 12 June, the Iranian Ministry of Petroleum-supported Petroenergy Information Network reported that Iran’s Opec governor Hossein Kazempour Ardabili had written to the Opec Secretariat proposing “a technical price formula that can resurrect the quota system and also prevent prices from falling”.
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