Oil price hike due to US efforts to prevent Iran’s oil exports

TEHRAN, Sep. 26 (MNA) – Iranian Oil Minister Bijan Namdar Zanganeh said "in order to prevent the rise in oil prices and instability in the market, US must stop preventing Iran's oil production and export, as well as interference in the Middle East issues.

Zanganeh made the remark on the sidelines of Cabinet of Ministers’ meeting held on Wednesday, saying, “if the United States wants lower oil price in the international level, it [United States] should prevent spread of tension in the Middle East region.”

In response to Trump’s remarks in the United Nations General Assembly (UNGA), he said that incorrect policy of Trump is the main factor behind considerable oil price hike and spread of instability in the international arena.

Trump accused Organization of Petroleum Exporting Countries (OPEC) of rising oil price, he said, adding, “unlike US President Trump’s remarks in this respect, OPEC has used all its capacities appropriately.”

Zanganeh also pointed to the last night remarks of French President Emmanuel Macron at the UNGA and reiterated, “Macron pointed his finger to US President Trump as main cause of rising oil price in the global market.”

Elsewhere in his remarks, he pointed to OPEC’s recent contract and non-violation of some countries on OPEC’s decision and said, “Organization of Petroleum Exporting Countries does not have any practical executive guarantee. In my opinion, no country in OPEC has the capacity to produce more oil at the current situation.”

Zanganeh stipulated, “Islamic Republic of Iran did not object to Russia’s oil decision raised in this respect.”

MA/4413145

News Code 138098

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