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

March 22, 2016 Share Print 0

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

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.