Iran's OPEC Envoy Blames Certain Members For Declining Oil Prices

Tehran, June 9, IRNA – Iran's representative to the Organization of Petroleum Exporting Countries (OPEC) Mohammad Ali Khatibi blamed certain member states for declining the oil price. Talking to IRNA, he said the failure of certain members of the organization in observing their production quota as well as economic crises in the US, Europe and certain Asian countries were the main reasons for the dropping prices in the world oil markets. He said while the OPEC set the official production ceiling at 30 million b/d in 2011, it produces about 2 million b/d more than the figure. Stressing that Saudi Arabia and its two ally countries namely Kuwait and the UAE are the biggest violators of their quotas, he said these countries are the major contributors to dropping oil prices in world markets. The Iranian envoy said Saudi Arabia is under pressure by world's biggest oil consumers to calm down the oil market and it is trying do so by increasing its oil supplies to the market. Khatibi said the Iranian oil minister has already sent a letter to the OPEC chief to protest the performance of these three countries, adding that he has urged the member states not to work against each other./end