Iran’s President: OPEC Deal Yet Another Defeat for US

TEHRAN (Tasnim) – Iranian President Hassan Rouhani said the Organization of the Petroleum Exporting Countries’ recent agreement in Vienna marked a new defeat for the US and thwarted its intrusive plots.

Iran’s President: OPEC Deal Yet Another Defeat for US

“Despite the Americans’ attempt to interfere in OPEC’s affairs and their efforts to upset the balance of oil supplies, their plot was fortunately thwarted with the resistance of (OPEC) member states and the Islamic Republic of Iran and (Iranian oil minister) Mr. Zanganeh’s firmness,” Rouhani said at a cabinet session on Sunday evening.

He said the OPEC deal marked another defat for the US intrusive policies.

After two days of talks at the OPEC headquarters in Vienna, OPEC member states and 10 other oil producing nations agreed on December 7 to cut output by 1.2 million barrels a day despite opposition from US President Donald Trump.

The OPEC members are planned to cut their output by 800,000 barrels and non-OPEC members by 400,000 barrels.

The Friday’s deal, however, has exempted Iran, along with Venezuela and Libya.

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