Iran has no plan to withdraw from OPEC

© RIA Novosti / Alexei Vitvitskiy in fotobanka OPEC. Archival photoIran has no plan to withdraw from OPEC© RIA Novosti / Alexei Vitvitskiy the image Bank

Iran has no plans to withdraw from the Organization of the petroleum exporting countries (OPEC), but does not intend to participate in production cuts, said the representative of the country in OPEC Hossein Kazempour Ardebili in interview to Agency Bloomberg.

Earlier on Monday, Qatar announced its withdrawal from OPEC from 1 January 2019, explaining this decision by the desire to focus on the production of gas and production of liquefied natural gas.

The delegate of Iran also spoke in favor of reducing oil production as part of the deal, OPEC+, however, said that his country is prey to reduce plans. «Of course, Iran will not cut. Of course, nobody is asking Iran, because our position is very clear: as long as the United States will expose us to sanctions, we are not going to cut oil production,» said Kazempour.

Iran has no plan to withdraw from OPEC© Infographicsrussia forces in the world oil market