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Iran: We will veto any decision by OPEC that harms our interests

BAGHDAD, Iran has warned against vetoing any OPEC decision that harms its interests, saying some crude producers are trying to create an alternative to supply that supports US policies it has described as hostile to Tehran's government.

Iranian Oil Minister Namdar Zanghaneh told reporters in Tehran on Thursday that the agreement reached by OPEC and its allies in 2016 to cut production "is in a deplorable condition," quoting from the "Bloomberg" agency.

He added that the OPEC Committee, to be held at the end of this week in Algeria does not have any authority to conclude a new agreement related to supply.

"Any decision by OPEC that poses the least threat to Iran will be banned," he said, adding that any decision on a new production deal by the OPEC ministerial committee on Sunday would be "null and void".

"Any country that says it can compensate for the lack of supply from the market" is supporting the United States, "he said, noting that Donald Trump's decision to cut Iran's oil exports at zero level was taken without consulting experts or the government.

According to press reports, the producers had not planned to take immediate action at the next meeting, and instead would discuss how they shared the agreed advance.

The United States is due to begin on October 4 to implement sanctions against oil entities that import crude oil from Tehran.

Source: National Iraqi News Agency

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