US President Donald Trump has repeatedly slammed high oil prices and called on Saudi Arabia to help “stabilize” the energy market.
“Mr. Trump is trying to seriously reduce the export of Iran’s oil and also ensure the price of oil does not go up, but these two cannot happen together. If he wants the price of oil not to go up and the market not to get destabilized, he should stop unwarranted and disruptive interference in the Middle East and not be an obstacle to the production and export of Iran’s oil,” Zanganeh said, according to Iranian Students News Agency.
The Organization of the Petroleum Exporting Countries (OPEC) and its member countries must lower oil prices and start contributing financially to their own defense, the US President stated during his address to the United Nations General Assembly.
The US President said at the 73rd UN General Assembly meeting that Washington will continue to impose sanctions against Iran despite the previously announced package of measures, which will enter into force on November 5. According to him, the “campaign of economic pressure” on Iran, which Washington considers “a sponsor of terrorism,” will continue.
READ MORE: ‘Demand Hasn’t Materialized’: OPEC Ignores Trump Demands to Drop Price of Oil
World oil prices have continued to grow after the statements of US President Donald Trump, who promised to introduce new sanctions against Iran, according to Bloomberg.
Earlier, Trump mentioned on his Twitter page that he had spoken to the Saudi King about the necessity to raise Riyadh’s daily oil production to two million barrels due to the unpredictable situation in Iran and Venezuela and that Salman bin Abdulaziz Al Saud had agreed to the proposal.
In response to this statement, Iranian Oil Minister Bijan Zangeneh has sent a letter to the OPEC president, asking him to halt an increase in oil output by some OPEC members without reaching a consensus.
READ MORE: OPEC, Other Producers May Boost Oil Output Amid Anti-Iran Sanctions — Reports
The US President announced on May 8 that Washington is withdrawing from the Joint Comprehensive Plan of Action with Iran to ensure that its nuclear program isn’t used for creating weapons. Trump reported on the restoration of all sanctions against Tehran, including secondary ones, which target countries that conduct business with Iran. Washington stated that its goal is to reduce oil exports from Iran to zero.