Iran Warns Oil Con­sumers of Tough Days

Iran News - - DOMESTIC -

TEHRAN – Oil Min­is­ter Bi­jan Zan­geneh said the com­ing months would be “pretty hurt­ful” for oil con­sumers.

“Un­for­tu­nately, the com­ing months are ex­pected to be pretty hurt­ful for con­sumers,” said the of­fi­cial in an in­ter­view with Shana, adding that the sanc­tions waivers US gov­ern­ment would grant oil con­sumers were not in pro­por­tion to the mar­ket de­mand.

He stated: “De­spite the ini­tial bat­tle cries of Mr. Trump and a num­ber of re­gional oil pro­duc­ers, the US gov­ern­ment even­tu­ally ac­knowl­edged a se­vere short­age of oil on the global mar­ket and the im­pos­si­bil­ity of re­mov­ing Iran from this mar­ket.”

He said that the United States would is­sue sanc­tions waivers to 8 coun­tries to buy oil from Iran due to a se­ri­ous short­age of oil and the sup­ply-de­mand im­bal­ance, and in or­der to re­duce the pres­sure on large con­sumers.

“But, the level of the waivers would not be able to meet the de­mand and, there­fore, I must say the fu­ture months will un­for­tu­nately be a hurt­ful months for oil con­sumers,” the of­fi­cial added.

Zan­ganeh fur­ther said that the Trump ad­min­is­tra­tion, on the eve of elec­tion in the U.S., had ar­ti­fi­cially re­duced oil and petrol prices, but there nat­u­rally will be an up­ward trend in the prices in the com­ing months.

Mean­while on Tues­day, Zan­geneh sent a let­ter to OPEC Sec­re­tary Gen­eral Mo­ham­mad Sanusi Barkindo com­plain­ing about JMMC per­for­mance and in­ter­pre­ta­tion of its de­ci­sions by some OPEC mem­bers and called for stop­ping its work.

In the let­ter the Ira­nian of­fi­cial com­plained that the com­mit­tee’s per­for­mance had been driven by mis­in­ter­pre­ta­tion of the OPEC Con­fer­ence de­ci­sions, as it was fre­quently re­ferred to in pre­vi­ous cor­re­spon­dences of Mr. Zan­geneh with OPEC.

Mr. Zan­geneh said: “Given the per­for­mance of the JMMC and JTC over re­cent months, we have re­gret­tably no­ticed that th­ese two com­mit­tees have de­vi­ated from their ini­tial ob­jec­tives for which they were es­tab­lished, and some OPEC mem­bers of th­ese two com­mit­tees have clearly taken side with the US in im­pos­ing its uni­lat­eral and un­law­ful sanc­tions against Iran, and are turn­ing th­ese two com­mit­tees into po­lit­i­cal tools in sup­port of the US poli­cies against Iran.”

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