Iranian President Running OPEC?
With Iranian President Ahmedinajehad taking over his nation’s Oil Bureau, he now is in a position to have considerable influence over OPEC, the Middle Eastern coalition of oil producing nations.
Normally, presidents of OPEC nations attend the meetings and are part of the decision making process besides each OPEC Nations’ oil ministers, but part of Ahmedinajehad taking over in Iran, he is now eligible to chair future meetings, including the upcoming OPEC summit set for June 8. These moves came as part of his effort to streamline his government. But many see this a volitile potential shift in OPEC. With Iran holding considerable influence and with the strong-armed style of the Iranian leader, there now exists even more possibility of conflicts with the rest of the world when it comes to dealings with OPEC, and especially oil prices when they are a sensitive issue especially in the United States.