Iran says rising oil prices will slow growth as much as tariffs

Hossein Kazempour Ardebili, Iran's governor at OPEC, also told Reuters that the increase in oil production The cartel and its allies, under pressure from Trump, were only 170,000 barrels per day (bpd) in June and would not grow much more in 2019, which would also weigh on economic expansion.

While Trump accused the Organization of Oil Exporting Countries of raising prices, Iran – third largest producer of OPEC – considers that the United States has generated the The increase by imposing sanctions on Tehran and other members of the group such as Venezuela.

"The rise in Trump's oil prices results in increased energy spending in the EU, Japan, China and India, affecting economic growth as well as tariffs Kazembour

Comments underline tensions still in place after the Opec meeting last month, when the group agreed to return to full compliance with the pump cuts planned last year, after months of declining production among some cartel members, including Venezuela.

Saudi Arabia noted that the pact allowed countries to produce more, like them, to advance and to do so, to provide the shortage in the world. Other places Iran has strongly opposed and criticized Saudi plans to increase production.

Kazempour added that Trump would be unhappy with the scale of the increase in pumping up here, and was skeptical about the Saudi Arabia and Russia's ability to add much more oil. in 2019.

"Nowadays, Saudi Arabia provides stocks, no additional production," he said. "Russia can not do much, not even 200,000 barrels a day, everyone is talking about a few barrels next year and the global economy will shrink and all the indices will drop. "