Tehran
- Iran's President Hassan Rouhani, flanked by Venezuelan counterpart Nicolas Maduro, vowed Saturday to "neutralise" the threat posed to both countries by plummeting oil prices, in a barely veiled broadside at Saudi Arabia.
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OPEC members Iran and Venezuela are reeling from a slide in the cost of crude to around $50 per barrel from $100 just six months ago, a precipitous fall that is straining their budgets.
Losses accelerated after the Organisation of Petroleum Exporting Countries cartel, of which Iran and Venezuela are founders, chose late last year not to cut output despite lower prices and oversupply.
Rouhani, his oil minister and other top officials in Tehran have criticised fellow OPEC member Saudi Arabia for not supporting steps to support higher crude prices.
Rouhani was meeting with Maduro when he again appeared to point the finger at Riyadh, in remarks carried on the Iranian government's website.
"Without doubt, cooperation of countries that are on the same line in OPEC can neutralise the plans of some powers who are against OPEC, stabilising a reasonable price for oil in 2015," Rouhani said.
Maduro arrived in Tehran late Friday, accompanied by his ministers for oil, foreign affairs, finance and industry, plus Venezuela's Central Bank chief, on what Iranian state media said would be a 24-hour trip.
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link to news.yahoo.com]
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