US statements cannot run oil market: Iran oil min.

TEHRAN, May 01 (MNA) – Iranian Oil Minster Bijan Zanganeh said Wed. that the oil market could not merely be managed by statements of the US officials.

According to the news site of the oil ministry SHANA, Zangeneh said “Global affairs are not as easy as thought by the US and its instigators. The oil market could not be controlled by mere statements.”

Addressing a press conference on the sidelines of the 24th Iran Oil Show, the Iranian oil minister added “the fragility of the oil market could not be compensated for by speeches and showmanship and creating psychological atmosphere.”

He also said US OPEC allies had been “overstating their spare capacity” in claiming that they would supply enough oil on the market once Iran’s oil has been driven out of the market under US sanctions. 

The oil minister further warned that anyone who uses oil as a political tool must also accept the consequences. As reported and translated by Reuters, he said that “those who use oil as a weapon against two founding members of OPEC (Iran and Venezuela) are disturbing the unity of OPEC and creating the death and collapse of OPEC and the responsibility for that is with them.”

After the United States announced late last month that it would not extend sanctions waivers on Iran's oil, which expire as soon as tomorrow May 2, different Iranian officials, including the Leader of the Islamic Republic Ayatollah Khamenei as well as the President Hassan Rouhani, declared that Iran will continue to sell as much oil as it wishes. 

KI/SHANA

News Code 144761

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