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"Au case where OPEC members would not fully respect their commitments, the effectiveness of this entity as the only intergovernmental organization "Developing countries with nearly 60 years of history will gradually become s & # 39; 39, eroding, "stressed Zanganeh.
Since reports on easing the ceiling of production quotas to avoid market distortions have strengthened, Iran has expressed its disagreement a possible adjustment of the Vienna Agreement.
Two weeks ago, the US President Donal Trump has increased pressure mechanisms For Saudi Arabia and OPEC, she sees it as a malicious intent to raise prices of crude oil and its derivatives to a historic level, at detriment of consuming countries.
The problem has caused tension in the region. As the letter sent by Zangane to his counterpart in Saudi Arabia shows, the Energy holder, Khalid al-Falih, in which he expresses the need to respect what was agreed at the last meeting in June to Vienna
. "Member countries have committed to achieving a 100 per cent compliance level of production as of 1 July 2018. However, the above decision does not guarantee member countries the right to exceed their level of production above that assigned (…), nor the right to redistribute failed production adjustment commitments among member countries, "he said
. Falih wrote to the Group last week that individual compliance levels will no longer be reported. "The change will be adopted to inform the compliance of each country to signal general compliance (…) countries will strive to meet the general level of compliance, voluntarily adjusted to 100 percent from July 2018", wrote Falih, according to Reuters.
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