Trump Responsible for Politicized Oil Market: Iran TEHRAN (NIOC) _ Iranian Minister of Petroleum Bijan Zangeneh says US President Donald Trump is responsible for politicization of the oil market in the world because of his actions.
Speaking to reporters upon his arrival in Vienna on Tuesday. Mr. Zangeneh told reporters, “Market has been politicized by President Trump,” adding, “I don't support the high price because I believe that the high prices are supported by President Trump and support shale oil production.”
“But President Trump because of the public opinion of the United States wants to show that he is against the high price and wants OPEC to change the situation. The situation has been created by the action of himself and this is the responsibility of President Trump that these high prices in the market and instability in the market,” further added the Iranian official, who is in Vienna to attend the 174th OPEC meeting and the 7th biennial international seminar of the organization.
OPEC no US Tool
He said: “I think every decision needs unanimity and I don’t think we can reach any agreement in this meeting.”
“I would like to declare that OPEC is an independent organization and is not an American organization and there is an important difference between EIA and OPEC. An OPEC is not the organization to receive instructions from President Trump and follow it,” Zangeneh further said.
“President Trump thinks he can order OPEC to do something. And President Trump has created a difficulty for the oil market by imposing sanctions against two important founder members of OPEC. And now asks OPEC to change something for the better pricing the market. It is not fair. I think that OPEC is a part of the department of energy of the United States.”
He said he believed that “it’s very important for me and some other OPEC members that oil market should be depoliticized. And the oil market is on benefit of the consumers and producers to do based on the supply and demand and market fundamentals. And oil is not a weapon; it is not a political tool to be used against some countries; producers or consumers...OPEC is not a political organization and I believe it is necessary for OPEC to support this idea that the market should be depoliticized and condemn and use of oil as a weapon or as a tool against some countries.”