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Iran says the oil market is fragile in the face of US pressure against Tehran and Caracas

Stock Photo / Photo REUTERS / Regis Duvignau.

Iran's oil minister said on Sunday that the balance between supply and demand in the global market is fragile due to US sanctions against Tehran and Caracas and tensions in Libya, while noting the consequences of an increase in oil prices. pressure against your country.

Oil prices have risen more than 30 percent this year, supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and the US sanctions with Iran and Venezuela, as well as an escalation in oil prices. conflicts in Libya.

"Oil prices are rising every day. That shows that the market is worried, "Bijan Zanganeh was quoted as saying by the Tasnim news agency.

"Venezuela is in trouble. Russia is also under sanctions. Libya is convulsed. Some of the production in the United States has stopped. This shows that the balance between supply and demand is very fragile. "Zanganeh said.

If the United States decides to increase the pressure on Iran, the fragility will increase in an unpredictable way, he emphasized. REUTERS


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