"[Donald] Trump sends every day a new message that creates uncertainty in the
oil market,” Bijan Zanganeh said in an interview with Iranian broadcaster IRIB.
According to the top official, the order issued by the US leader is "a great
insult to [OPEC] governments and nations, and destabilizes the market.”
Zanganeh added that neither Iranian oil production nor its exports had changed
as a result of US pressure.
Earlier this week, Trump lashed out at OPEC, accusing the oil organization of
failing to help the US to reduce domestic gasoline prices. "The OPEC monopoly
must remember that gas prices are up and they are doing little to help… This
must be a two way street. Reduce pricing now!” the US leader tweeted.
The OPEC Monopoly must remember that gas prices are up & they are doing little
to help. If anything, they are driving prices higher as the United States
defends many of their members for very little $’s. This must be a two way
street. REDUCE PRICING NOW!
Iran, whose oil exports have been targeted by US sanctions, has been angered
by Trump’s tweets. "Mr President, may I ask you, what are you talking about?
OPEC has not defined oil prices for the past 30 years, it is a financial market
and regional hubs for marker crudes who does it?” Iran’s OPEC Governor Hossein
Kazempour Ardebili said on Thursday. Iran was one of five countries, along with
Iraq, Kuwait, Venezuela and Saudi Arabia, which founded OPEC back in 1960.
While Trump says he wants lower oil prices, Washington’s sanctions against OPEC
members Iran and Venezuela are adding uncertainty to the market, causing prices
to spike. "You impose sanctions on major producers, founders of OPEC, and yet
you are asking them to reduce the prices?! Since when did you start ordering
OPEC!”Ardebili added.
According to Professor of Economics Steve Keen, oil prices will rise regardless
of what Iran does, but Trump will blame Tehran anyway. Trump’s attempt to
control oil prices is "the beginning of the chaos – having a mad man in control
of a complex system,” he told RT.
Keen stressed that Trump is trying to "jump on Iran and stop Iran’s oil
production.” So, he says, as well as boosting demand in general with the
recovery and in particular with his policies in America, the US leader "is now
trying to boost supply, but at the same time he is cutting supply out of Iran.”
Source: RT