TEHRAN (Dispatches) - A former Iranian OPEC governor has rejected claims by authorities in crude-producing countries that Tehran’s output of oil has exceeded a limit set by the Organization of Petroleum Exporting Countries and allies, a grouping known as OPEC+.
Mohammad Ali Khatibi said that Iran has remained fully committed to output quotas set by OPEC+ since April when the bloc moved to boost global oil prices amid the spread of the coronavirus pandemic.
"Currently, our total production, including barter, direct exports and exchanges as well as domestic consumption and storage is within the framework of the quotas,” Khatibi told the semi-official ILNA news agency.
The comments come amid reports suggesting that two key OPEC members Saudi Arabia and Kuwait have raised concerns about a potential deal between Iran and China whereby the Chinese would increase their purchase of Iranian oil products in return for heavy investment in the country’s oil and gas sector.
The reports come despite the fact that Iran has been exempt from rounds of OPEC+ cuts mainly because its direct sale of oil has declined significantly since 2018 when the United States imposed its unilateral sanctions on the country.