Zanganeh: “I Am Not Pessimistic with OPEC”

“OPEC may undergo ups and downs but it is equipped with a general will, prudence and rationality; it has reached a maturity which would guarantee collective interests,” Zanganeh said in a nationwide TV interview.

He said, “True, policies are highlight influential in OPEC but the two hard years certain groups tolerated due to fall in prices are enough for them to consent fall in the production or preventing its increase.”

He underlined, “I am not pessimistic and I am even optimistic to some extent that OPEC will come to a result.”

The OPEC Secretary General Mohamed Barkindo had reportedly expressed concern on Tuesday over fall in the oil prices, saying that in case of oil freeze, it will entail negative consequences.

“Oil freeze is no longer important; what’s a matter is production cut and that what would be the share of any country in the fall and deficit in the production. OPEC faces difficulty but I am not pessimistic with it.”