Iran’s Oil Minister Rostam Qasemi will participate in the 162nd regular ministerial meeting of the Organization of Petroleum Exporting Countries (OPEC) in Austria.
The meeting will be held at the OPEC headquarters in the Austrian capital, Vienna, on Wednesday, with oil production ceiling for member states and decision on the new secretary-general high on its agenda.
During the 161st meeting of the OPEC conference in Vienna in June, the member states agreed to adhere to the production ceiling of 30 million barrels per day.
A vote to appoint a successor to OPEC Secretary-General Abdullah El-Badri was also postponed in June.
The secretary general, who is the main representative on the world stage of the OPEC, helps formulate the organization’s output policy. He is also in charge of the Vienna secretariat of the organization.
OPEC, which provides about 35 percent of the world’s oil, is a permanent intergovernmental organization of 12 oil-exporting countries, including Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.