[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

Texas Man Arrested for Threatening NYC's Mamdani Man puts down ABC's The View on air Strong 7.8 quake hits Russia's Kamchatka My Answer To a Liberal Professor. We both See Collapse But.. Cash Jordan: “Set Them Free”... Mob STORMS ICE HQ, Gets CRUSHED By ‘Deportation Battalion’’ Call The Exterminator: Signs Demanding Violence Against Republicans Posted In DC Crazy Conspiracy Theorist Asks Questions About Vaccines New owner of CBS coordinated with former Israeli military chief to counter the country's critics, BEST VIDEO - Questions Concerning Charlie Kirk, Douglas Macgregor - IT'S BEGUN - The People Are Rising Up! Marine Sniper: They're Lying About Charlie Kirk's Death and They Know It! Mike Johnson Holds 'Private Meeting' With Jewish Leaders, Pledges to Screen Out Anti-Israel GOP Candidates Jimmy Kimmel’s career over after ‘disgusting’ lies about Charlie Kirk shooter [Plus America's Homosexual-In-Chief checks-In, Clot-Shots, Iryna Zarutska and More!] 1200 Electric School Busses pulled from service due to fires. Is the Deep State Covering Up Charlie Kirk’s Murder? The FBI’s Bizarre Inconsistencies Exposed Local Governments Can Be Ignorant Pissers!! Cash Jordan: Gangs PLUNDER LA Mall... as California’s “NO JAILS” Strategy IMPLODES Margin Debt Tops Historic $1 Trillion, Your House Will Be Taken Blindly Warns Dohmen Tucker Carlson LIVE: America After Charlie Kirk Charlie Kirk allegedly recently refused $150 million from Israel to take more pro Israel stances "NATO just declared War on Russia!"Co; Douglas Macgregor If You're Trying To Lose Weight But Gaining Belly Fat, Watch Insulin Arabica Coffee Prices Soar As Analyst Warns of "Weather Disasters" Risk Denting Global Production Candace Owens: : I Know What Happened at the Hamptons (Ackman confronted Charlie Kirk) Illegal Alien Drunk Driver Mows Down, Kills 16-Year-Old Girl Who Rejected His Lewd Advances STOP Drinking These 5 Coffees – They’re Quietly DESTROYING Your Gut & Hormones This Works Better Than Ozempic for Belly Fat Cinnamon reduces fat How long do health influencers live? Episode 1 of 3. 'Armed Queers' Marxist Revolutionaries Under Investigation For Possible Foreknowledge Of Kirk's Assassination Plot

Business/Finance
See other Business/Finance Articles

Title: Iran: No Country Able to Boost Oil Production
Source: [None]
URL Source: http://en.farsnews.com/newstext.aspx?nn=13970724000569
Published: Oct 17, 2018
Author: staff
Post Date: 2018-10-17 00:31:25 by Tatarewicz
Keywords: None
Views: 94

TEHRAN (FNA)- Iranian Oil Minister Bijan Namdar Zanganeh said that the market is facing reduction in supply and no producer is able to make up for the loss.

"At present, the oil market is facing reduction in supply and is not balanced," Zanganeh told reporters in Tehran on Tuesday.

"At present, no producer has the needed possibility and power to increase production," he added.

Zanganeh explained that Saudi Arabia is now using its oil reserves while the US has announced that it will not use its reserves until ambiguities about the fate of Saudi journalist Jamal Khashoggi are cleared.

He noted that US President Donald Trump thinks that he can decrease oil prices through bullying oil producers, and said the shortage in the crude market will not disappear by words.

In relevant remarks last week, Zanganeh dismissed Saudi officials' claims that the country could compensate for a loss of Tehran's supplies in the global market after the imposition of the US sanctions.

"These remarks seem to have been made under the pressure exerted by Mr. Trump, otherwise, in reality, neither Saudi Arabia nor any other producer is capable of such production," Zanganeh said in response to the Saudi officials who claimed that they can export two barrels of oil for any single barrel of Iranian crude lost by the market after the US sanctions.

He added that the tight market situation and price hikes indicated that the market was already facing a shortage, adding that the market was right to be concerned about the future.

"The oil that Saudi Arabia presented to the market recently was not its excessive production but was its past reserves," Zanganeh disclosed.

Poster Comment:

So, looks like oil/gasoline price will keep increasing.

Post Comment   Private Reply   Ignore Thread  

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]