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Iran slams Trump's 'interfering' remarks on OPEC

IANS  |  Tehran 

Iran's Minister said US has recently made "interfering" remarks on the Organisation of the Exporting Countries (OPEC).

"Political issues should not interfere in the crude market, and supply and demand should determine the final price," said, Press TV reported on Saturday.

"But some political measures and instabilities spark concerns in the market and increase its price, including Trump's insulting order to some members," Zanganeh said.

Trump's order for producing countries to raise output "is very insulting to the people of these countries and would undermine their national sovereignty and destabilize the oil market," he said.

On June 30, Trump said had pledged to increase its by two million barrels per day "to compensate for falling output in and Iran", reported.

On Wednesday, Trump said is "driving higher", urging the cartel to reduce the price at the soonest.

Zanganeh said Trump's anti-remarks are the causes of the increase in the prices in the over the past days.

Hossein Kazempour Ardebili, Iran's to the OPEC, said the strong rhetoric by Trump against OPEC and could soon push up crude prices to as high as $100 per barrel.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, July 08 2018. 05:42 IST