Some OPEC members threaten organization’s existence: Iran

Iran's minister of petroleum says some members of the Organization of the Petroleum Exporting Countries (OPEC) risk destroying the energy group, in an apparent dig at Saudi Arabia.

Bijan Zangeneh said Monday Tehran backs cooperation with non-OPEC oil producers, but stressed the importance of achieving unity among the organization’s members in the first place.

"Without unity among members of OPEC, it is meaningless to plan cooperation between OPEC and non-OPEC countries,” he told reporters before heading to Vienna to attend an OPEC meeting.

OPEC members were to meet later on Monday followed by a meeting with non-OPEC states, including Russia, on Tuesday.

They are expected to prolong the current output restrictions of 1.2 million barrels per day (bpd) by another six to nine months, with Zangeneh saying Iran will support the decision.  

Tehran has in the past objected to policies put forward by Saudi Arabia, saying Riyadh was too close to Washington.

The United States is not a member of OPEC, but it has demanded Saudi Arabia pump more oil to compensate for lower exports from Iran after slapping fresh sanctions on Tehran.

Zangeneh said, "While we have not been hostile to any country, some members of the OPEC have taken the path of hostility with our nation."

"Iran supports cooperation with non-OPEC states, but as long as some members of OPEC are hostile against other members, like Iran, OPEC's understandings with non-OPEC states are meaningless and there is no room for cooperation," Zangeneh said. 

"An organization, where two members strive to challenge the interests of other members, is doomed to dissolution and talks of OPEC-non-OPEC agreements would be meaningless,” he added.

Later Monday, Zangeneh said he would reject the proposal to sign a new charter for cooperation with non-OPEC members, led by Russia.

"I believe it is not the time to discuss this matter because inside OPEC we have a lot of difficulty," he told reporters upon arriving in Vienna.

Zangeneh noted that he would back extending output cuts for another six to nine months. "I have no problem with a production cut ... It's going to be an easy meeting as my stance is very clear."

SS