Iran oil minister holds Trump responsible for rising oil prices

TEHRAN, Oct. 02 (MNA) – The Iranian oil minister has blamed the US President Donald Trump for the hike in oil prices, adding that OPEC is unable to increase oil production at Trump’s request.

“At the United Nations, Trump said that OPEC is to blame for increasing oil prices and it had increased the prices so it needs to increase oil production ... But Trump is to blame for the situation himself because the US president wants to remove Iran’s crude oil and petrochemical products from the [world market], while the world is not ready for that situation and prices will rise,” Bijan Namdar Zanganeh said Tuesday, according ICANA News Agency.

Zanganeh added that at Algeria meeting, the OPEC did not feel the need to increase crude oil production, noting that the 7-8 dollars hike in the prices took place after Trump’s speech at the UN.

The Iranian oil minister further advised the United States to suspend sanctions against Iran to calm the market, adding that in the current situation, there is no shortage in the market, but the United States’ provocations are increasing the prices.

He underlined that China, Japan and European countries will be the main losers of US' political tensions in the market, as these countries are the major oil importers.


News Code 138301


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