Russia, OPEC to Discuss Oil Prices after Lifting of Iran Sanctions
TEHRAN (Tasnim) – The Russian Energy Ministry and the Organization of the Petroleum Exporting Countries (OPEC) will discuss world oil prices after the removal of sanctions against Iran, Russian Energy Minister Alexander Novak said.
"The main issue, which is discussed at every meeting, is the situation on the oil market in regard to production volumes, realization, and extraction, taking into consideration the lifting of sanctions against Iran," Novak was quoted by Sputnik as saying.
He said that the Russian Energy Ministry and OPEC on July 30 will discuss new technologies in oil extraction and monitoring systems of taxation in other oil producing countries.
"Next time, we would like to offer for discussion, as a second issue, the global situation with oil refining," Novak added.
On Tuesday, Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) concluded more than two weeks of intensive talks over Tehran's peaceful nuclear program in the Austrian capital of Vienna on July 14.
The negotiating parties reached a conclusion over the text of a comprehensive 159-page deal on the nuclear issue after 22 months of talks.
Once Iran and the sextet begin implementing what they agreed on in the nuclear talks, sanctions imposed on Tehran over its nuclear energy program will be terminated.