Iran’s Oil Minister to Meet OPEC Ministers

TEHRAN (FNA)- Iran’s Oil Minister Gholam Hossein Nozari is planned to hold talks with his counterparts from OPEC member states.

Nozari, heading a delegation, arrived in Vienna, Austria, Thursday to attend the 147th meeting of the OPEC Conference which is scheduled to open on Friday.

An informed source told IRNA that the Iranian minister will exchange views with his counterparts on various issues concerning the Organization of Petroleum Exporting Countries.

Speaking to IRNA, an oil expert said that no special situation prevails in the oil market, adding that it is predicted that no new decision would be made at the Friday meeting until the next OPEC session in March.

He added that reduction in the US banking interests rate and the possibility of making no change in the OPEC production led to an increase in oil prices during recent days.

The OPEC oil ministers are to discuss ongoing developments in oil market and make a decision on production level.

Iran, Saudi Arabia, the United Arab Emirates, Algeria, Iraq, Kuwait, Angola, Indonesia, Libya, Nigeria, Qatar, Venezuela and Ecuador are the OPEC member states.