Skip to main content

World market to stay balanced even without Iran oil, says US official

World market to stay balanced even without Iran oil, says US official
posted onOctober 15, 2018
nocomment

US special envoy for Iran, Brian Hook, told reporters on Monday that the world oil market will be well-supplied even after US push for zero Iranian oil sales.

Ahead of a new round of Washington sanctions against Tehran, Hook talked to officials from France, Britain, Germany followed by a visit to India, a top importer of Iranian oil.

“We are working with countries that are reducing their imports to ensure that this happens,” the US senior official quoted by Reuters.

He warned Tehran that US will push for zero oil import from Iran and ensured the world countries that the oil market will remain stable.

US President, Dona Trump withdrew from Iran Nuclear deal on May and imposed new sanctions on Tehran. The Islamic Republic is facing severe financial crisis since then. 

Dozens of foreign companies have left Iran since the US sanction.

Earlier on June, Trump said in a tweet that Saudi Arabia’s King Salman had agreed to Washington request to increase oil production “maybe up to 2,000,000 barrels” to offset production from Iran and Venezuela.