Ahmadinejad to Raise Significant Proposals at OPEC Meeting

A01426945.jpgIranian President Mahmoud Ahmadinejad Saturday said that he has a number of proposals to make at the upcoming heads of state summit of the Organization of Petroleum Exporting Countries (OPEC) in Riyadh, Saudi Arabia. “OPEC plays a significant and influential role in global economy, but it has not yet found its actual position as it is under heavy pressures,” the Iranian president told reporters prior to his departure to Manama, where he would meet senior Bahraini officials to discuss bilateral ties before heading for the OPEC summit in Riyadh.

Ahmadinejad further described demands for increased production and reduced prices as unfounded and artificial, stressing that the price of energy is still lower than what it should be.

He also pointed to the integration of the economic potentials of the OPEC member states as well as selection of a proper trading currency for oil exchanges as among crucial issues which need to receive increased attention from the members of the oil cartel, reminding that the currency in which oil is traded leaves an impact on the economy of exporting countries.

The president further complained about the rapid extraction and consumption of oil and energy resources, and said that during the summit he would raise proposals about cooperation among the member states as well as utilization of potentials and oil resources of OPEC member states.

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