US-Saudi Oil Increase Plan a Ploy Against OPEC

US-Saudi  Oil Increase  Plan a Ploy Against OPECUS-Saudi  Oil Increase  Plan a Ploy Against OPEC

The US political pressure on Saudi Arabia to boost oil output, irrespective of OPEC's agreement on production curb, is more of a conspiracy against the organization to undermine its decision makings, the head of Majlis Energy Commission said.
"OPEC should preserve its independence in decision-making and maintain a clear position against political interventions, which are aimed at weakening the OPEC members' role in future decisions," Fereydoun Hassanvand was also quoted as saying by Shana on Sunday.
"Otherwise such unilateral hawkishness by the US will only ruin the organization," he added.
The US has reportedly asked Saudi Arabia, OPEC’s largest producer and de facto leader, and others to relax output restraints put in place in early 2017, as prices near $80 per barrel pose a threat to economic growth.
However, several members, including Iran, disagree with the idea on the need to pump more oil. 


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