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Iran says extra Saudi, Russian oil helps Trump and hurts producers

Reuters  |  LONDON 

(Reuters) - and need to cut oil output, a top Iranian said on Wednesday, adding that extra supply from the two countries had caused a slide in prices and benefited U.S.

has been angered by higher Saudi and Russian production in response to calls from Trump to cool and make up for an expected drop in Iranian exports due to U.S. sanctions.

"There is no other way for and Russia," said Iran's OPEC governor, Hossein Kazempour Ardebili, when asked whether the producers needed to trim output in 2019. "They pushed the prices $15 a barrel lower in one month and only made U.S. gasoline cheaper for Trump."

"They lost billions on revenue and caused losses to poor producers in and "

(Reporting by Alex Lawler; Editing by Dale Hudson)

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

First Published: Wed, November 07 2018. 20:31 IST