OPEC’s Badri Hopes for Positive Producer Meeting in April, Says Iran Could Join Group Later

Iran may join other oil producers planning to freeze production to support prices at a later date, OPEC’s secretary general said on Monday, since the country is seeking to raise its exports.

Producers from the Organization of the Petroleum Exporting Countries and non-members are due to meet on April 17 in Qatar discuss the output freeze. But Iran is seeking to increase exports, following the lifting of Western sanctions in January.

“I hope the result of the meeting will be positive,” Abdullah al-Badri said at a news conference in Vienna. “They are not objecting to the meeting but they have some conditions for the production and maybe in the future they will join the group,” he said of Iran.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.