Parliament Speaker: Sharp fall in oil prices result of plots

Iranian Parliament Speaker Ali Larijani blamed the West and its regional allies for the sharp fall in oil prices and OPEC's deteriorating conditions. 


"The problems of decline in oil prices are attributed to the plots in which everyone knows who has played a role," Larijani told reporters in Moscow on Wednesday. 


He called on OPEC and non-OPEC producers to do their best to bring back balance to the oil market. 


In relevant remarks on Tuesday, Iranian Oil Minister Bijan Zangeneh said Tehran supports moves like the Doha conference which are aimed at tackling the consistent market volatility, saying that OPEC member "Iran has never had a role in the market instability". 


During a live radio interview, Zangeneh said certain oil-producing countries opposed lifting of sanctions on Iran right from the beginning and for this reason they tried to keep oil prices as low as possible in a push to bother Iran's economy. 


"Currently, the oil market is glutted by more than 2 mbd which reduce the prices dramatically," said the official. 


Zangeneh said that the Doha meeting is a beginning for cooperation between OPEC and non-OPEC crude oil producers and would hopefully lead to market stability, saying, "As before, Iran will attempt to play its part in bringing stability back to the crude oil market

Source: NNA