“Unrest in the oil market has nothing to do with Iran’s return,” Qurban told Shana.
He said three scenarios can be predicted for the informal session of the OPEC in Algeria. “The first scenario, which is the most likely option, is that the members will not reach agreement and that means continuation of the status quo.”
He added that OPEC consensus which will lead to oil price hike is the second scenario. “The last scenario is the members will condition their consensus on the buts and ifs which will encourage oil price fluctuations.”
Iran should not have agreed to elimination of the quota system in the OPEC and this has cost the country dearly, according to Qurban.
According to Qurban, under conditions when western sanctions served as a dagger pointed to Iran, such inexpert decisions should not have been made. “Saudi Arabia and many of its allies will not be ready to accept return to the quota system. Saudi insistence that Iran is accountable for oil market stability is politically motivated. Now the country blames Iran for all the ongoing unrest in the region.”
Arab members of OPEC take increase in Iran’s production as a threat for themselves while revival of its share in the oil market is the absolute right of Iran, said Qurban, adding, “What has made the oil market unstable is not Iran’s return to the market, rather imbalance during Iran sanctions. Certain OPEC members are not pleased with Iran’s return to the world crude oil market and follow a plan called oil freeze to stabilize the production ceiling of the OPEC members. This way, they wish to prevent Iran’s complete revival of its hare in the market and its further empowerment, while provoking more crude oil decline.”
He referred to propaganda of Arab states, especially Saudi Arabia, to portray Iran as faulty for market instability and said informal OPEC session in Algeria will leave drastic impact on the market if the members are serious enough.
Translated by: Behnaz Hossein Gholipour