Iran To Reassert Authority At OPEC After Nuclear Deal -- Reuters
(Reuters) - Bijan Zanganeh returns this week to the same Vienna hotel suite he last occupied eight years ago as Iranian oil minister, ready to prepare OPEC for what Tehran hopes will mark its return as the cartel's second biggest producer.
Emboldened by its nuclear deal with the West, Iranian oil negotiators led again by industry veteran Zanganeh, will seek to reassert Tehran's authority in the Organization of the Petroleum Exporting Countries at a Wednesday meeting.
Western sanctions imposed in 2012 on Iran for its nuclear program have cost it dearly, losing it billions of dollars in oil revenues and market share in OPEC - largely to its main regional political rival Saudi Arabia, and neighbor Iraq.
With its exports still shackled by sanctions for at least another six months, I
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My Comment: Iran is OPEC's #4 producer .... so it is well positioned to have a major say in OPEC. But .... other OPEC members like Iraq are coming back to the markets, and non-OPEC members are increasing their output there by minimizing the importance of OPEC. My prediction .... expect even more dissension and deep disagreements among OPEC members for the foreseeable future.
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