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R Tehran, Jul 1 (AP) Iran today released fellow OPEC members to "refrain from any unilateral measures" to increase oil production beyond the 1 million additional barrels of crude oil, a warning to Saudi Arabia after President Donald Trump said the kingdom would increase production.
The Iranian warning, in a letter to the United Arab Emirates' energy minister, comes as Tehran faces a US push to get its allies to stop buying its oil as part of Trump's
Meanwhile, Iran's first vice president said the country's private sector will be able to buy and export crude oil to a new plan to fight US sanctions
Iranian Oil Minister Bijan Zanganeh wrote to Emirati Energy Minister Suhail Mohamed al-Mazrouei, who is now serving as OPEC's president. The letter, published by the Iranian Oil Ministry's SHANA news agency, did not directly name Saudi Arabia, Iran's Mideast rival, but the ultraconservative kingdom was clearly its target.
"OPEC decisions by no means warrant any action by some of its member In the United States of America, "politically motivated against Iran," Zanganeh wrote.
"We are all in agreement with depoliticizing our efforts in OPEC, we should not let others take political action. and independence. "
Members of the Organization of the Petroleum Exporting Countries cartel led by Saudi Arabia and non-cartel members agreed this month to pump 1 million barrels
But yesterday, Trump wrote on Twitter that he had received badurances from King Salman of Saudi Arabia that the kingdom will increase oil production, "maybe up to 2,000,000 barrels "in response to turmoil in Iran and Venezuela.
Saudi Arabia currently produces some 10 million barrels of crude oil a day. Trump's tweet
"King Salman baderts that the kingdom maintains a 2-million-barrel-per-day spare capacity, which it will be necessary to ensure that it will be effective in the future, and that it will be able to meet the needs of all stakeholders, "the statement said.
Trump administration has pushed allies to
The deal allowed Iran to the United States of America following the US pulling out of the 2015 nuclear deal.
sell his crude oil on the international market, a major cash infusion for its anemic economy, long hobbled by international sanctions.
Meanwhile today, Iran 's first Vice Chairman Eshaq Jahangiri said his country' s crude oil will be available on Iran's domestic stock market for private companies to buy and export. He did not offer specifics for the plan.
"Our attempt is to defeat US policies in the oil market," he said.
He also The United States for "begging the Saudis" to increase oil production to drive down the global oil prices.
"If any country attempts to take Iran's place in the oil market in this battle, we will consider it a big treachery to the They will surely pay for this betrayal someday, "Jahangiri said, without elaborating. (AP) KIS
KIS
This is unedited, unformatted feed from the Press Trust of India wire.
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