Iran Economy Minister May Attend OPEC Meeting June 8
LONDON (Dow Jones Newswires), May 31, 2011
Iran's Economy Minister Shamseddin Hosseini may represent the Islamic Republic at the next meeting of the Organization of Petroleum Exporting Countries, a person familiar with the matter said over the weekend.
"It's a possibility," the person familiar with the matter said.
The considerations are bringing some clarity over who could chair the gathering at a key juncture for the producer group.
Iran's Oil Ministry caretaker head, President Mahmoud Ahmadinejad, has told officials he wouldn't attend, breaking away from earlier governmental statements that he would come.
Attendance by the economy minister, who would represent the holder of the presidency Iran, would make sense for the country at a time of increased budgetary needs from oil revenues.
But Iran's OPEC governor Muhammad Ali Khatibi said last week that "we are waiting for a decision from the president."
OPEC will have to decide June 8 in Vienna if it increases its output quotas or keeps them unchanged.
Copyright (c) 2011 Dow Jones & Company, Inc.
- BLOG: What do Rigzone Readers Think of the OPEC/NOPEC Deal? (Dec 07)
- Big Shale Turns OPEC Ally From Foe With Focus on Oil Returns (Dec 04)
- OPEC, Russia Agree Oil Cut Extension To End Of 2018 (Nov 30)