Iran to reassert authority at OPEC after nuclear deal

Bijan Zanganeh returns this week to the same Vienna hotel suite he last occupied eight years ago as Iranian oil minister, ready to prepare OPEC for what Tehran hopes will mark its return as the cartel's second biggest producer.

Emboldened by its nuclear deal with the West, Iranian oil negotiators led again by industry veteran Zanganeh, will seek to reassert Tehran's authority in the Organization of the Petroleum Exporting Countries at a Wednesday meeting.

Western sanctions imposed in 2012 on Iran for its nuclear program have cost it dearly, losing it billions of dollars in oil revenues and market share in OPEC - largely to its main regional political rival Saudi Arabia, and neighbor Iraq.

With its exports still shackled by sanctions for at least another six months, Iran poses no immediate threat to the status quo. Oil ministers are widely expected to roll forward until June an agreement to hold their output near 30 million barrels daily for 12 member countries.

http://www.reuters.com/article/2013/12/02/us-opec-iran-idUSBRE9B109N20131202