OPEC plans no immediate action after Iran urges Israel oil embargo, say sources

Dubai: OPEC is not planning to hold an extraordinary meeting or take any immediate action after Iran’s foreign minister called on members of the Organisation of Islamic Cooperation (OIC) to impose an oil embargo and other sanctions on Israel, four sources from the producer group told Reuters.

Iranian Foreign Minister Hossein Amir-Abdollahian on Wednesday called on OIC members to impose an oil embargo and other sanctions on Israel and expel all Israeli ambassadors.

Four sources from the Organization of the Petroleum Exporting Countries (OPEC), which produces a third of the world’s oil and includes several Muslim countries including Iran, said that no immediate action or emergency meetings were planned by the group in light of Iran’s comments.