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Iran warns Saudi Arabia to increase oil production at a pace beyond the agreement
2018/07/16 17:08
(Encyclopedia of this Day News | Iraq News ) - directly warned the Iranian oil minister of oil production exceeded the member states of "OPEC" agreed levels, which could cause "undermine the effectiveness of the Organization."
Last month OPEC agreed to cut compliance to a cut-off agreement to 100 percent by the beginning of the month, after surpassing 150 percent in May.
"This agreement does not guarantee the right of Member States to exceed the level of production higher than agreed," Bijan Zanganeh said in a speech to his counterpart Khalid al-Faleh on Monday.
"This is a violation of their commitment, we are concerned that this approach may continue in the remaining months of the agreement to become a routine practice," Zanganeh said.
Last month, Saudi Arabia contributed the largest increase in oil production, increasing by 405.4 thousand barrels per day, bringing the total production to 10.42 million barrels per day.
The Iranian official also warned that OPEC could lose its effectiveness if member countries pump more crude than agreed in June.
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Last month OPEC agreed to cut compliance to a cut-off agreement to 100 percent by the beginning of the month, after surpassing 150 percent in May.
"This agreement does not guarantee the right of Member States to exceed the level of production higher than agreed," Bijan Zanganeh said in a speech to his counterpart Khalid al-Faleh on Monday.
"This is a violation of their commitment, we are concerned that this approach may continue in the remaining months of the agreement to become a routine practice," Zanganeh said.
Last month, Saudi Arabia contributed the largest increase in oil production, increasing by 405.4 thousand barrels per day, bringing the total production to 10.42 million barrels per day.
The Iranian official also warned that OPEC could lose its effectiveness if member countries pump more crude than agreed in June.
Note: The content entitled (Iran warns Saudi Arabia to increase oil production at a pace exceeding the agreement) was published first on Mubasher site and the encyclopedia of this news day does not contain its content in any way.
You can see the details of this address (Iran warns Saudi Arabia to increase oil production at a rate beyond the agreement) through its original source (ie, direct).
https://hathalyoum.net/articles/1606505-%D8%A5%D9%8A%D8%B1%D8%A7%D9%86-%D8%AA%D8%AD%D8%B0%D8%B1-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%85%D9%86-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%A8%D9%88%D8%AA%D9%8A%D8%B1%D8%A9-
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