OPEC tries to depoliticize oil, the producer group’s secretary-general was quoted by the Iranian oil ministry.

Iran Press/Europe: OPEC Secretary-General, Mohammad Barkindo said at an oil and gas exhibition in the Iranian capital that “OPEC tries to depoliticize oil”, Iran’s oil ministry reported on Twitter.

According to Iran Press, the United States has demanded that buyers of Iranian oil stop purchases by the start of May, or face sanctions, ending six months of waivers that had allowed the Organization of the Petroleum Exporting Countries (OPEC) members, Iran’s eight top customers, most of them in Asia, to import limited volumes.

“I have told my colleagues at OPEC that you must leave your passports home when coming to this organization,” Barkindo was quoted as saying.

Asked by a reporter if it was technically possible to implement US sanctions against Tehran, Barkindo said: “It is impossible to eliminate Iranian oil from the market.”

Saudi Arabia and several US allies claimed that they can replace the lost barrels.

Iranian Oil Minister, Bijan Zanganeh warned on Wednesday that nations that use oil as a weapon will bring about the collapse of the Organization of the Petroleum Exporting Countries.

Echoing Zanganeh’s comments, Barkindo said: “We have faced troubles in the OPEC in the last 60 years, but we have resolved them by unity.”

“What is happening in Iran, Venezuela or Libya has an impact on all the market and the energy sector,” he said.

The US said that buyers of Iranian oil must stop purchases by May 1 or face sanctions, ending six months of waivers which allowed Iran’s eight biggest buyers -- Turkey, China, Greece, India, Italy, Japan, South Korea, and Taiwan --to continue importing limited volumes.

Oil prices hit their highest level since November 2018 in the aftermath of Washington’s decision.

China – the largest buyer of Iranian crude -- said it had lodged representations with the US over the move.

Turkey, in turn, reiterated its opposition to all kind of sanctions. 105/201

 

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