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DUBAI (Reuters) – Iran has pledged OPEC members to "refrain from any unilateral measures", warning that it would undermine the unity of OPEC, following reports that Saudi Arabia has raised its oil production to a record high this month.
As Tehran seeks Iranian Oil Minister Bijan Zanganeh wrote to his UAE counterpart, Suhail al-Mazrouei, who holds OPEC presidency in 2018, urging him to remind OPEC members to adhere to last month's agreement.
"Any increase in the production by any member of country beyond commitments stipulated in OPEC's decisions … would be breach of the agreement," Zanganeh wrote in the letter by Reuters and reported by Iranian state media.
OPEC member states to adhere to their commitments … OPEC, "he added.
OPEC agreed with Russia and other oil-producing allies on June 23 to raise output, with Saudi Arabia pledging a measurable supply boost, but giving no specific numbers.
OPEC and non-OPEC countries said that they would be able to return to the United States. That would be roughly 1 million barrels per day of OPEC officials.
But since then sources knowledgeable about Saudi Arabia. Last week, Reuters reported that Saudi output would rise to 11 million bpd in July, a total 1 million bpd above May.
Iran had been pushing hard for the oil producers to hold steady-state products as sanctions are expected to hit its exports.
Purpose Saudi Arabia, OPEC's biggest producer, has been elected President of the United States and President of the United States of America. -Falih.
Non-OPEC Russia, meanwhile, was under pressure from its own energy companies to lift up its headlines in the oil industry. President Vladimir Putin's popularity, Russian sources said.
In the end, Saudi Arabia and Russia pushed through a million bpd at the Vienna meeting.
Washington said last week it was asking for more information.
In his letter, Zanganeh said that the OPEC members were weakening the group and that they should not be in a position to take action against the group's unity and independence.
"Any unilateral production increase beyond member states' commitments under the OPEC's decisions would prompt U.S. to take action against Iran," he wrote.
"OPEC Decisions by the United States of America in the United States of America" (19659017) Reporting by Rania El Gamal; Editing by Robin Pomeroy
