Read more on this subject: Oil
News Story Source: https://www.zerohedge.com
Iran has warned that OPEC might "collapse" due to the "unilateral actions" by some of its members, in a clear jab at Saudi Arabia.
"Iran is a member of OPEC because of its interests, and if other members of OPEC seek to threaten Iran or endanger its interests, Iran will not remain silent," Oil Minister Bijan Zanganeh said on Thursday, as quoted by the ministry's official news agency, SHANA.
OPEC headquarters, image via WSJ
Following the US declaring its "maximum pressure" campaign to take Iran crude exports down to zero, and ending the waiver program, Saudi Arabia and its close ally UAE pledged they will maintain appropriate supply for the markets to compensate for the shortfall — in accordance with President Trump's demands that OPEC do more to curb rising oil prices.
Zanganeh had issued the statements warning of the oil cartel's collapse on the occasion OPEC Secretary-General Moha
Read More or Make a Comment