Wednesday, June 20, 2018

��Oil is not a weapon��: Iran��s energy minister wants OPEC to push back against Trump

��Oil is not a weapon��it is not a political tool to be used against some countries, producers or consumers.�� ��Iranian Oil Minister Bijan Zanganeh

Iranian Oil Minister Bijan Zanganeh thinks that a key OPEC gathering on Friday could help to put U.S. President Donald Trump in his place over global crude supplies.

Trump, watching a vibrant domestic economy operating under the weight of average U.S. gasoline prices that are hovering near $3 a gallon, has criticized the Organization of the Petroleum Exporting Countries via Twitter for what he has described as ��too high�� oil prices.

Oil prices are too high, OPEC is at it again. Not good!

— Donald J. Trump (@realDonaldTrump) June 13, 2018

Read: Why higher gas prices aren��t hurting Americans now as much as they once did

Zanganeh was talking to reporters late Tuesday in Vienna ahead of Friday��s OPEC meeting, Russia and a handful of other non-OPEC crude producers, which could determine if a production cap that expires at the end of 2018 will be extended or if members will increase output limits.

Both U.S. traded West Texas Intermediate crude

No comments:

Post a Comment