Iran says Trump 'destabilising' oil market

An aerial view of an Iranian floating oil export terminal in the Persian Gulf

"Saudi Arabia, and OPEC more broadly, would lose its key lever on the global oil market, which would leave prices heavily exposed in the case of an additional supply shock", the analysts added.

Trump's order for oil producing countries to raise output "is very insulting to the people of these countries and would undermine their national sovereignty and destabilize the oil market", he said.

Zanganeh added that neither Iranian oil production nor its exports had changed as a result of U.S. pressure. But if anything, Trump's bluntness is refreshing: if, as he suggests, the objective of the U.S. military - with a yearly total budget of a trillion dollars - is to protect OPEC members in exchange for "cheap oil", how cheap is that oil?

On Wednesday, Trump said OPEC is "driving oil prices higher", urging the cartel to reduce the price at the soonest. This must be a two way street.

USA energy companies this week added oil rigs for the first time in three weeks but the rate of growth has slowed over the past month or so with a decline in crude prices from late May through late June.

Think your friends would be interested?

The administration has not been clear about whether sanctions will apply just to crude or will include condensates ("Briefing with an Iran diplomacy update", State Department, July 2).

Thierry Henry has shaped Romelu Lukaku into World Cup's most impressive striker
He posted the boys' photos and said the victory "goes to the heroes of the day, well done boys, you are so strong". France is back in the World Cup final for the first time since Zinedine Zidane's headbutt in 2006.

Drakes Scorpion shatters global records with one billion streams
Cole didn't jump on the long-album trend, but Migos and Post Malone did: Culture II has 24 tracks and Beerbongs & Bentleys has 18. It racked up 745.92 million US online plays in its first week, the highest streaming debut for any artist ever.

Green Day's 'American Idiot' climbs United Kingdom charts ahead of Trump visit
Michael Pritchard, known professionally as Green Day's bassist Mike Dirnt, responded to the protest campaign back in April. Melania and I saw American Idiot on Broadway last night and it was great.

"U.S. shale potential is still largely unknown and the outlooks on markets such as Iran, Libya and Venezuela are highly uncertain", the analysts said. It said that the United States was "not granting waivers" to any country which was in business with Iran.

The move is part of Trump's withdrawal from the Iran nuclear deal, which previously eased economic penalties on the country as long as it curbed its nuclear weapons program.

Even if the Europeans cave in to U.S. demands, the world has changed a great deal since the pre-Iran deal era.

Tehran and Vienna extended the energy cooperation agreement which was signed between Iranian oil ministry and Austria's energy ministry, Shana reported on Thursday quoting Iranian Deputy Oil Minister for International Affairs and Trading Amir-Hossein Zamaninia.

The oil minister accused U.S. President of insulting OPEC by ordering it to increase production and reduce prices, adding that Iranian output and exports had not changed as a result of U.S. pressure, Reuters reported.

South Korean embassy in Tehran on Saturday denied that the country has stopped oil imports from Iran, IRAN Daily reported.

South Korea has bought almost 296,000 barrels of oil from Iran in the first five months of the year, and is the biggest buyer of Iranian oil after China and India.

Related News:



Most liked

Mesut must quit Germany: Father
Ozil struggled in Russian Federation as Joachim Low's side failed to make it out of Group F. Mustafa Oezil told the Bild newspaper.

KL Rahul Surges In ICC T20I Rankings, Aaron Finch Tops The Chart
India beat England by 2-1 to win the three-match series while Pakistan edged Australia in the final to lift the tri-series title. Australia's D'Arcy Short, Jason Roy of England and Solomon Mire also achieved career-best rankings following the latest update.

George Clooney hurt in motorbike crash
The Italian Carabinieri said the crash happened at 8.15am on Tuesday on State Road 125 from Puntaldia towards Olbia. It's thought he has sustained a hip injury from the incident and has since been released from hospital.

Fitness app revealed data on military, intelligence personnel
Polar monitors heart rate, location , route, date and time of the training, the information can be shared on the social platform. Polar ultimately made a decision to disable the map on its website, preventing others from recreating this research.

Giant Diaper-Clad ‘Trump Baby’ Blimp Now Set for a World Tour
It urges demonstrators to 'be prepared to take to the streets in the most incredible protest in our history'. The Trump blimp baby is expected to make its debut during this time .

Israel to launch its first spacecraft to the moon
Along with Kahn, the Israeli Space Agency and US megadonor casino tycoon Sheldon Adelson are funding SpaceIL. SpaceIL will ship the as yet unnamed module to the United States in November ahead of the launch.

William and Kate’s third child, Prince Louis, christened
Harry Aubrey-Fletcher: He went to Ludgrove School and Eton with William and his father is the Lord Lieutenant of Buckinghamshire. Prince William , Prince Charles and the queen, for example, were all christened in the Music Room of Buckingham Palace.

Serena Williams into Wimbledon semi-finals with win over Camila Giorgi
However, she took a big step back in 2017, going 1-12 against WTA top-20 players and failing to win a singles title. Her dance of delight signalled the end of Giorgi's threat as Williams raced to the finish line.

Meghan Markle Stuns In Black Dior To Mark RAF's 100th Anniversary Celebrations
Harry and Meghan later joined royals at a Buckingham Palace reception to mark the centenary of the Royal Air Force . So it is no wonder that both Prince William and Prince Harry appeared honored to be present for the celebrations.

Eden Hazard Makes Big Real Madrid Claim
And Chelsea may replace him with Gonzalo Higuain who, in the wake of Ronaldo's Juventus move, may quit Turin. The La Liga side have also released a similar statement regarding Neymar.

Cristiano Ronaldo Juventus transfer reportedly close, sending shares rocketing
Ronaldo led Portugal to a Euro win in 2016, but flamed out of the 2018 World Cup in the Round of 16 with a loss to Uruguay. I am leaving but I will always feel that this jersey, this badge and the Santiago Bernabéu are mine, no matter where I am.

South Africa's Van Rooyen leads Irish Open by 4
If I had 100 putts every week I played and hit the ball halfway decent, I'd win every week". "I'm really disappointed. Wish I could birdie the two par fives but I didn't. "I just wish I could have birdied the two par fives".

Google Pay now supports peer-to-peer payments and mobile tickets
The tickets will live in the same Passes tab as your loyalty cards, gift cards, and offers in the Google Pay app for Android . Especially with airline tickets, this dedicated view makes it easier to quickly pull up a boarding document.

France beat Belgium 1-0 to reach final
Rock superstar Jagger seemed to not be getting much satisfaction when the camera panned into the stands at St. Will Belgium be up to the challenge? The PSG right-back received his second yellow card against Brazil.

A quick look at the "final four" Supreme Court candidates
Republicans control the Senate by a 51-49 majority, making any efforts by Democrats to thwart Trump's nominee an uphill battle. The New York Times reports that Senator Majority Leader Mitch McConnell (R-KY) told President Trump that Judges Raymond M.