Iran: No Mediator Needed for Tehran-Riyadh Strife in Oil Market

Shortly following the 15th International Energy Forum in Algeria, Zangeneh told reporters that Iran must at least reach its pre-sanctions production level that would be nearly 4 million barrels per day. 

Iraqi oil ministry spokesman Asim Jihad said recently, “Iraq is leading a mediation to bring the viewpoints of Saudi Arabia and Iran closer, in order to get out of the crisis and support oil prices.”

Asked if he approved of Asmi’s assertions, Zangeneh said: “I do not confirm.”

“He said Iran and Saudi Arabia do not need a mediator in the oil market because they can talk and have talked so far.” 

Big Step Forward

Asked about an unlikely agreement by Organization of Petroleum Exporting Countries (OPEC) in organization’s informal meeting, Zangeneh said, “We did not expect an accord would be reached in the meeting.” 

He said, however, “We would try to reach an agreement today as the Algerian government had made a lot of efforts in this regard and we thank this country for its endeavors.”

“Right from the beginning we did not expect much from this consultative meeting of OPEC oil suppliers as it is an informal meeting and not a one for making decision,” he added. 

The Iranian energy official said: “I think today a major step will be taken for future.”