Minister: Iran ready to increase energy security in world

Iranian Petroleum Minister Javad Owji expressed Iran’s readiness to reinforce energy security in the world without any politicization.

As a major oil producer in the world, Iran has always been ready to reinforce its role in supplying oil and increasing energy security in the world, away from any politicization, Owji told reporters on the sidelines of the 32nd OPEC and non-OPEC Ministerial Meeting.

Technically speaking, the OPEC Plus technical and supervisory committee in its scenario has predicted a growth of 400,000 barrels per day in the oil supply in 2022, which is about 600,000 barrels per day less than last month's prediction, he added.

According to the latest statistics, the OPEC+ coalition member states’ compliance reached 546% in July 2022.

Touching upon the escalation of the energy crisis in Europe, Owji said: Although the Europeans are trying to compensate for the lack of energy by making some decisions in their energy policies, the stable and reliable supply of energy sources, specifically oil and gas, as the autumn and winter seasons approach, would be a necessity for European consumers.

Stressing OPEC+ member states’ cooperation in line with stabilizing the market, he said that the stability of OPEC+ cooperation could help the world's consumers in the current crisis.

News Code 194276

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