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MP: Oil price should be determined by OPEC

Service : Politic
Tehran, May 17, ICANA – An Iranian lawmaker said the price of oil should be determined by the Organization of Petroleum Exporting Countries (OPEC).
Wednesday, May 17, 2017 10:22:00 AM
MP: Oil price should be determined by OPEC

Talking to ICANA, a member of Majlis (Parliament) Energy Commission said European countries are trying to decrease oil price.

Hassan Bahramnia underscored that the European countries buy oil will low price and earn astronomical incomes from the exports of finished products out of crude oil.

Touching upon the Russia and Saudi Arabia agreement for extending the freeze of oil production, the lawmaker said the oil price should only be determined by OPEC.

The MP said oil production takes place at an exorbitant price, adding that exporting oil with lower price would create overhead costs in the oil sector.


Iran - OPEC - Oil
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