Sep 26, 2018, 3:56 PM
News Code: 83045296
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Trump main cause of oil price hike: Iranian minister

Tehran, Sept 26, IRNA – Iran's oil minister said the US president and his illegal, disturbing policies have resulted in oil price rise and instability in the region.

'The US President [Donald Trump] who has been the main cause of the oil price skyrocketing and instability in the oil market, has blamed the OPEC [Organization of Petroleum Exporting Countries] for the rise, while the organization has made his utmost of production,' Bijan Zangeneh told reporters on Wednesday.

Trump is trying to reduce Iran's oil export, and at the same time keep the prices low, he said, adding, 'But if he is seeking a stable market, he should stop meddling in the Middle East region, refrain from escalation and avoid blocking Iran's export.'

On May 8, President Trump pulled Washington out of the nuclear deal and reimposed sanctions on Iran. He has pressed the US allies to halt crude imports from Iran.

Commenting on the statement by the remaining signatories of the nuclear deal on facilitation of Iran's oil export, the minister said the two sides should try to implement the statement, as they have the required a political will.

'The Europeans are serious and determined to carry out their will,' he said.

Today, the capacity of OPEC members for oil production is no more than what they are doing, and if a country makes a contrary claim, it is a 'bluff'.

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