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Iran oil min says some OPEC members want to battle for market share

Iranian Oil Minister Bijan Zangeneh said on Wednesday some OPEC members, but not Iran itself, believed it was time to defend market share in the face of growing supplies from non-OPEC nations.

He made the comments ahead of a meeting with Saudi Oil Minister Ali al-Naimi.

Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) meet on Thursday in Vienna. Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut.

NA
Copyright:
Reuters
Published on:
November 26, 2014
Source url:
http://www.reuters.com/article/2014/11/26/opec-meeting-iran-share-idUSL9N0TF01E20141126?rpc=401
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