Zanganeh Exit Brings Opec Uncertainty

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The retirement of Iran's veteran Oil Minister Bijan Zanganeh after presidential elections on Jun. 18 will mark the departure of the longest serving oil minister in the Opec-plus alliance of producer countries. It's not yet clear who will succeed Zanganeh when he steps down, most likely in mid-August. But whoever it is will take the reins at a sensitive time. If US-Iran talks in Vienna lead to sanctions relief, Tehran has made clear its intention to swiftly restore its crude output to pre-sanctions levels and hike exports, even if some voices within Opec-plus call for restraint (PIW May28'21). A senior Iranian oil source insists the choice of the country's next oil minister won't affect Iran’s position toward Opec-plus or its planned return to the market.

Opec-Plus Supply , Opec/Opec-Plus
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