Oil minister:

Iran’s oil removal to affect oil market seriously

News ID: 4154405 -
TEHRAN, Nov. 25 (MNA) – Iran’s oil minister has dismissed Trump’s recent threats to remove Iran’s oil export from the international markets.

Bijan Namdar Zanganeh said “that Iranian oil supply to the market has currently reached up to 2.5 million barrels per day, and its removal from the oil market will have serious effects on the market.”

Referring to the possibility of extending the Oil-Freeze Plan, he added “most OPEC members agree with the extension of the plan, but the final decision will be made at the OPEC meeting.”

The oil minister touched upon the issue of the fall in oil prices in recent days saying “the fall is not a matter of concern and it only shows that political tensions in the region are easing.”

The US President Donald Trump had stated that his administration would try to toughen sanctions on Iran and limit Iran's oil exports.

KI

Comment

4 + 8 =