Bijan Namdar Zangeneh, Iran’s minister of oil, said that despite Iran’s criticisms to the current conditions at OPEC, the country will not exit OPEC.

Zangeneh added: “As a founding member of OPEC, Iran will continue its activities within OPEC and maintain OPEC family.” He continued: “As long as Iran’s sanctions are not lifted, Iran will not participate in any agreement to lower production.”

He stated: “OPEC is not a subsidiary of the U.S Department of energy for them to dictate their policies. I believe OPEC members have reached a level of maturity to make decisions that would benefit all the members.”

Iran is accusing Saudi Arabia and Russia of taking advantage of U.S sanctions by taking over Iran’s share of the market.

One day before the OPEC summit, president Trump asked the OPEC members not to lower oil production. He said a decrease in oil production will increase the prices.

However, Reuters reported that OPEC members have agreed to decrease their oil production.