Tehran, YJC. As time is coming for the 166th OPEC summit, the members seem to be increasing in disagreement.
Algeria, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi
Arabia, the United Arab Emirates, Ecuador, Angola, and Venezuela are going to
gather around in a few days to discuss some unprecedented happenings in the oil
market.
The group’s decision can lead into a yet more severe
downward movement in oil prices, or in the contrary, keep the current prices or
even make them go higher a little.
Meanwhile, what seems most conspicuous is severe
disagreement among the member states; something whose origins have to be found
in Middle East’s political developments.
Although oil prices have plunged down within the few past
weeks, some OPEC members have taken no stance against it, rather even
expressing tacit consent over it.
Some other member states have taken opposite stance and
demanded reduction in oil production in order to prevent prices from going
down.
A bipolar situation is created as a result with Iran and
Saudi Arabia on the two ends, each with their specific political stances as
regional powers.
In the meantime, some countries have voiced in synchrony
with Iran and have asked other members to reduce their production volume to
help keep the prices. Among these Venezuela is the most prominent.
Iranian Oil Minister
Bijan Namdar Zanganeh has held meetings with Iraqi, Venezuelan, Kuwaiti,
Qatari, and Emirati officials in order to create some coalition prior to the
summit.
Although according to the minister himself the causes and
ways to cope with the plungedown in oil prices were discussed in these
meetings, one is not sure how much the meetings can be effective in bringing
the attending members together for a unified vote at the summit, something Zanganeh
himself has reiterated.
IRNA