Iran elected OPEC president after 36 years

After 36 years Iran was elected as the president of the Organization of Oil Exporting Countries (OPEC), Deputy Oil Minister Mohammad Ali Khatibi told the Mehr News Agency.

The decision was made by 12-member oil cartel in Vienna on Thursday. Iran will retain the post until 2011. The 157th session of the meeting of the OPEC ministers began its work in l Vienna on Oct.14.

OPEC comprises 12 countries: Algeria, Angola, Venezuela, Iraq, Iran, Qatar, Kuwait, Libya, Nigeria, UAE, Saudi Arabia and Venezuela. The cartel's countries ensure about 35% of oil demand in the global market.


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