Iran along with Venezuela and Iraq will veto Saudi Arabia’s proposal to increase oil production in the June 22 meeting in Vienna. (Photo: VNA) |
Ardebili told reporters that if Saudi Arabia and Russia want to increase production, this requires unanimity, saying that if the two want to act alone, that’s a violation of the cooperation agreement. He added that 3 OPEC founders will stop Saudi Arabia and Russia’s action.
OPEC members are set to meet on Friday in Vienna to discuss their proposal to end OPEC and non-OPEC deal which led to balancing the oil market and increasing oil prices.