United States making a mistake by politicizing oil: Iranian oil minister


by   |  VIEW 97
United States making a mistake by politicizing oil: Iranian oil minister

In a preliminary session on Tuesday, the 23rd of April 2019, the Iranian oil minister had cautioned United States saying that the Trump Administration had been making a bad mistake by politicizing oil price and by using it as a weapon, an Islamic Republic News Agency (IRNA) report revealed.

On Tuesday (April 23rd), both UK and US crude oil prices climbed to their highest levels since November, after Washington had ended all waivers on imports of grief-stricken Iranian oil industry, as a move to prevent importers from buying Iranian crude oil, which eventually tightened global supply further amid an ongoing OPEC production cut, crisis over the oil industry in Venezuela and Libya.

Nevertheless, according to the agency report, the Iranian oil minister had also threatened United States and said that the Trump Administration would never be able to reduce Iranian oil export to zero. According to the Iranian Students’ News Agency, Iranian oil minister, Zanganeh said at the parliament, “With all our power, we will work toward breaking America’s sanctions.

America has made a bad mistake by politicizing oil and using it as a weapon in the fragile state of the market,” which raised further questions on whether the world had been at the verge of witnessing another clash over the dominance of the Strait of Hormuz, which usually transits around 35 percent of entire global oil supply, as the Republican Army had said yesterday (April 22nd) that they would be shutting doorway towards the world’s most important choke-off point.