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Zanganeh: Sanctions Undermine International Oil Market

The US has done all it can to intimidate Iran's traditional clients to halt their imports but Iran has found new buyers
Zanganeh: Sanctions Undermine International Oil MarketZanganeh: Sanctions Undermine International Oil Market
Oil prices have extended a rally this year on expectations that the sanctions on Iran will test OPEC’s ability to replace the deep shortfall

Inadequate supplies are posing serious challenges to the international oil market and the ensuing problems cannot be addressed with empty slogans or by bullying from the Trump White House.
Oil Minister Bijan Namdar Zanganeh made the statement Tuesday on the sidelines of the 4th Petroleum and Energy Club Congress in Tehran, October 16-18.
Zanganeh said the hike in crude prices is due largely to the US sanctions against Iran’s oil exports and can only be resolved by lifting the unjust restrictions. 
 

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