Tehran, Jan 4, IRNA – Government spokesman and head of the Management and Planning Organization Mohammad-Baqer Nobakht said Sunday that the oil price falls in global markets will leave no impact on Iran's economic development.
  Referring to happiness of certain countries from the recent plunge in global oil price, Nobakht said that in case the oil price reduces to half of what it used to be, although it may cause some troubles for Iran, it will fail to weigh down the Iranian nation.
On any possible bilateral talks with Saudi Arabia on fluctuations of oil market, Nobakht said that Tehran government expects the Saudi officials to engage in win-win negotiations to serve the interest of both nations.

OPEC has been established to help maintain production power of member states and keep prices balanced, Nobakht said, adding that the OPEC members are naturally expected to adjust their supply in accordance with global demand.

'We expected member countries to accept the reality of oversupply in the recent OPEC meeting in Vienna and take action to cut the glut.'

By IRNA

 

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