Wednesday, December 7, 2022

Saudis Luring Oil Customers Away from Iran: Minister

Iran’s Oil Minister Bijan Namdar Zanganeh blamed Saudi Arabia for discouraging customers from buying Iranian crude and luring them away by offering lower prices.

Describing such ploys as being “unusual in the marketing field”, the minister said that Riyadh offers lower prices to customers considering buying Iranian oil.

Despite this fact, Iran has succeeded in doubling its oil exports, he stressed.

Reiterating Iran’s determination to regain its share of the oil market after a lasting nuclear deal with world powers coming into force, Zanganeh said the country aims to “Produce 4m barrels per day of crude oil” without consideration for any other party.

He once again rejected a proposed oil freeze plan by the OPEC members, noting that Saudi Arabia’s “obstinacy” led to the failure of a recent meeting of oil-producers in Qatar’s Doha.

Iran is striving to maximize its oil output after the termination of the sanctions under the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear deal between Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) that took effect in January.

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