Iran calls on OPEC to maintain limits on oil production

The country, one of the founding members of the bloc, strongly opposes Trump's demands to lower oil prices

Iran has called on other OPEC members to maintain oil production limits and has challenged Donald Trump's threats at a time when his crucial oil exports are the target of the American president.

The oil company of the Persian Gulf warned that any violation of OPEC's oil production ceiling will affect the efficiency of the organization and urged that the limits be strictly adhered to. He reminded the Saudi oil minister that a control commission set up by the group is not allowed to interpret OPEC decisions and said in the United States. that their efforts to curb Iran's exports are not "viable".

In June, the production of other member countries was "well above" their original commitment and is a violation of this agreement, said the Minister of Petroleum. Iran, Bijan Namdar Zanganeh, in a letter to OPEC President Suhail Al Mazrouei, according to Shana, the press service of the Ministry of Oil. He did not identify these countries. OPEC and its allies agreed last month to increase production to badigned levels at the end of 2016 from this month.

"We fear that this violation will continue" for the rest of the agreement "and become a practice of US President Donald Trump is pressuring Saudi Arabia, the arch-rival Iranian regional and other OPEC members to make up for any supply shortages that may arise when sanctions Americans restrict Iranian oil exports Iranian flows could be cut in half when US sanctions come in effective November 4, according to the International Energy Agency.The country exports about 2.5 million barrels a day

"Trump makes many statements these days, (but) its claim and its efforts to block or reduce to zero the export of Iranian oil are not at all, "said the spokesman of the Iranian Foreign Ministry, Bahram Ghasemi, according to Shana. The Iranians "will use all our options to disable the American plans."

Saudi Oil

The barrel of oil fell below US $ 70. Saudi Arabia offered additional deliveries of Arab Extra Light to at least two Asian buyers in August, said people with good knowledge of the subject, after providing total contract volumes to customers in the region. Meanwhile, it is said that the US government It badesses the exit of the gross market of the country's strategic oil reserve, which contains 660 million barrels.

"If the OPEC member countries do not fully honor their commitments, the effectiveness of this organization as the only intergovernmental organization Developing countries with nearly 60 years of history will be gradually weakened, "said Zanganeh in the letter. "The responsibility would be for member countries that violate their commitments."