Oil Minister: OPEC to Make No New Decisions

TEHRAN (Fars News Agency)- Iranian Minister of Oil Kazem Vaziri Hamaneh in Doha Saturday said members of the Organization of Petroleum Exporting Countries (OPEC) would make no new decisions during the 10th International Energy Forum that is to begin here on Sunday.

Vaziri-Hamaneh, who arrived in Qatar today to attend the forum, said current oil prices are currently “good,” adding that global oil supply is currently balanced with demand.

The minister further said he would put forward Iranian President Mahmoud Ahmadinejad’s view of creating a fund in OPEC to help poor countries.

OPEC members on Sunday, on the sidelines of the forum, will be discussing the current situation in the global oil market and record prices.