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Trump, Prime Culprit of Rising Oil Prices: Zanganeh
 

Trump, Prime Culprit of Rising Oil Prices: Zanganeh


Monday، 01 October 2018

TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zanganeh said the main culprit of high oil prices was US President Donald Trump and his disruptive, illegal policies.

 

According to IRNA, Mr. Zanganeh, speaking on the sidelines of the cabinet meeting, told reporters the president of the United States, who is himself the main cause of rising oil prices and instability in the market, “keeps accusing the Organization of the Petroleum Exporting Countries (OPEC) [for high prices] while OPEC has tapped all its capacity for production.”

“Mr. Trump is both trying to minimize Iran’s oil exports and prevent growing prices, but if he seeks to maintain market stability, he must leave the Middle East region alone and avoid undue meddling and policies that create tension, and do not throw a monkey wrench into Iran’s crude oil production and exports,” he said.  

“Speaking at the 73rd session of the United Nations General Assembly (UNGA) last night, French President Emmanuel Macron also clearly touched on this issue in his speech,” he added.

Asked about the statement by P4+1 countries regarding Iran’s oil exports, he said the two sides needed to enforce the statement, adding, “In my estimation, the two sides do enjoy the required political will to do so.”

The Iranian Minister of Petroleum stressed that fact that Europeans were serious in this regard and wanted to materialize it.

He said: "OPEC's production capacity is not much more than what it is today, and if a country says the opposite, it is not substantiated."

Pasargad Energy Development Co. (PEDC) is an independent energy company based in Iran. PEDC is an integrated energy company whose activities span the entire value chain including exploration, production, refining, petrochemicals marketing, power generation & renewables as well as new high-tech venture capitalizing. Our headquarter is located in Tehran. PEDC is present across the Iranian continental shelf and international market through its subsidiaries. We create value for our shareholders through active investment, high-level monitoring of our projects, building world-class partnership and managing our risks effectively and making balanced portfolio. Meantime, we contribute to the sustainable development of the energy sector and communities in our country. PEDC’s competitiveness relies upon our values-based performance culture, with a strong commitment to transparency, cooperation and continuous operational improvement. As a wholly owned subsidiary of the Pasargad Financial Group, with Pasargad Bank being a distinctive shareholder, we owe our success to our experience, management knowledge and strong local/international partnerships since 2008. PEDC is committed to maintaining sustainability and being recognized as the strategic partner of choice in Iran’s energy and petrochemical sector.​

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