Iran oil minister: No change in production, export

Narendra Modi and Donald Trump

Narendra Modi and Donald Trump

Trump accused on Wednesday the Organization of the Petroleum Exporting Countries of driving fuel prices higher, and urged USA allies such as Saudi Arabia to pump more if they wanted Washington to continue protecting them against their top foe Iran.

Iran's Oil Minister Bijan Zanganeh talks to journalists at the beginning of an OPEC meeting in Vienna, Austria, June 22, 2018.

Iran's oil minister on Saturday accused U.S. President Donald Trump of insulting OPEC by ordering it to increase production and reduce prices, adding Iranian oil production and exports had not changed as a result of U.S. pressure.

Trump on Wednesday accused the Organization of the Petroleum Exporting Countries of driving fuel prices higher, and urged Saudi Arabia to pump more if it wanted Washington to continue protecting it against its top rival Iran.

Zanganeh said Iranian oil production and exports had not changed as a result of US pressure. Whatever India's concerns are about Iran's nuclear programme, which Delhi has voted against at forums such as the United Nations, it is unlikely that it can cut off such a reliable supplier of energy in the short timeframe proposed by the US.

Last Friday, unnamed sources told Reuters that the Korean government had pressured refiners into suspending orders for July shipments of Iranian crude, which is the first time this has happened since 2012.

Foreign ministers from the five remaining signatory countries offered a package of economic measures to Iran on Friday to counter the USA sanctions, but Tehran said the package did not go far enough. By the same logic, it stands to reason that the USA should be willing to consider the interests of India - which it describes as a key ally - as far as Iranian oil imports are concerned.

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