Iran's oil minister will not join an Iranian delegation at a meeting this weekend of major crude producers aimed at negotiating a production freeze, the oil ministry said on Friday.
In a statement carried by the Shana news agency, the ministry said Bijan Zanganeh would skip the talks in Doha, adding that "Iran already announced it cannot join the plan to stabilise oil prices" while its output is still below pre-sanction levels.
The ministry said Iran's OPEC representative would attend the meeting instead.
Tehran is expected to seek a waiver as it increases output after the lifting of nuclear-related Western sanctions.
OPEC kingpin and regional rival Saudi Arabia has vowed not to join an output freeze unless Iran does the same.
Oil prices, which hit a 13-year low earlier this year, have rebounded sharply in recent weeks partly on expectation that a deal between OPEC and non-OPEC producers in Qatar could help to reduce a global crude supply glut.
OPEC said Wednesday that Iranian oil production in March was 3.3 million barrels per day (bpd), up from 2.9 million in January, but still short of its pre-embargo level of around 4.0 million.
"Iran supports efforts... to stabilise the market and support prices," oil ministry spokesman Akbar Nematollahi was quoted as saying Friday.
"Iran's representative will go to Doha to explain the position of Iran and revive efforts to improve the market situation."
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Nomura CEO signals more job cuts in Europe to reverse losses
RBC eyes more private-equity dealings in 2019 to gain edge
Europe markets test investor nerves in roller coaster ride
Foxconn to begin assembling top-end Apple iPhones in India in 2019: Source
Japan factory output falls, sales slow as risks to economy rise
Nissan to make fewer cars in China as demand slows
UK finance watchdog makes less from fines after a bumper year
Japan stocks are a bargain, but there are few takers
US to extend sanctions waiver for Iraq to import Iranian gas