Iran press/ Iran news: Iran Petroleum Minister Bijan Zangeneh, said on Monday October 8, 2018 that no other country and even Saudi Arabia can replace Iranian petroleum output. His remarks came as response to recent allegations made by Saudi officials, reported IRNA.
Such allegations have roots in the pressures exerted by the US on Saudi officials and in fact no one in the world (even Saudi Arabia) are able to do so, Zangeneh added.
Recently, one of the Saudi officials has claimed that they produce two oil barrels in the absence of one barrel of Iranian oil, he said, adding that such nonsense might satisfy the US president, but the market never believes such allegations.
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Rise in the market indicates that the market suffers from shortage of petroleum and all are now concerned for such severe lack of production, he said.
Iran Petroleum Minister Bijan Zangeneh concluded that Saudi Arabia has pumped its' reserve to the market which has nothing to do with extra output.
Oil dealers underlined that Saudi Arabia is unable to swiftly increase its' output and lack the mechanism to compensate Iran's probable decrease.
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