{"id":45894,"date":"2019-05-03T11:32:17","date_gmt":"2019-05-03T16:32:17","guid":{"rendered":"https:\/\/olduvai.ca\/?p=45894"},"modified":"2019-05-03T11:32:24","modified_gmt":"2019-05-03T16:32:24","slug":"opec-collapse-likely-warns-irans-oil-minister","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=45894","title":{"rendered":"OPEC Collapse Likely, Warns Iran’s Oil Minister"},"content":{"rendered":"\n

OPEC Collapse Likely, Warns Iran’s Oil Minister<\/a><\/h3>\n\n\n\n

Iran has warned that OPEC might “collapse”<\/strong> due to the “unilateral actions” <\/strong>by some of its members, in a clear jab at Saudi Arabia. <\/p>\n\n\n\n

\u201cIran is a member of OPEC because of its interests, and if other members of OPEC seek to threaten Iran or endanger its interests, Iran will not remain silent,\u201d Oil Minister Bijan Zanganeh said on Thursday<\/a>, as quoted by the ministry\u2019s official news agency, SHANA.OPEC headquarters, image via WSJ<\/em><\/a><\/p>\n\n\n\n

Following the US declaring its “maximum pressure” campaign to take Iran crude exports down to zero, and ending the waiver program, Saudi Arabia and its close ally UAE pledged they will maintain appropriate supply for the markets to compensate for the shortfall \u2014<\/em> in accordance with President Trump’s demands that OPEC do more to curb rising oil prices.<\/p>\n\n\n\n

Zanganeh had issued the statements warning of the oil cartel’s collapse on the occasion OPEC Secretary-General Mohammad Barkindo visit to an oil and gas exhibition in the Iranian capital. Barkindo had sought to assure the Iranians that \u201cOPEC tries to depoliticize oil\u201d by saying at the exhibition, \u201cI have told my colleagues at OPEC that you must leave your passports home<\/strong> when coming to this organization,\u201d according to Reuters<\/em><\/a>. <\/p>\n\n\n\n

Iran last month also accused Saudi Arabia and its allies of exaggerating their surplus oil capacity, to which the oil minister followed this week by saying “any threat from member states won\u2019t go unanswered.”<\/p>\n\n\n\n

Meanwhile the OPEC Secretary-General, in a further attempt to calm fears of an unraveling OPEC,\u00a0told reporters<\/a>,\u00a0\u201cIt is impossible to eliminate Iranian oil from the market.\u201d<\/strong>\u00a0He added,\u00a0\u201cWe have faced troubles in the OPEC in the last 60 years, but we have resolved them by unity.\u201d<\/p>\n\n\n\n

<\/a>\u00a0\u2026click on the above link to read the rest of the article\u2026
<\/p>\n","protected":false},"excerpt":{"rendered":"

OPEC Collapse Likely, Warns Iran’s Oil Minister Iran has warned that OPEC might “collapse” due to the “unilateral actions” by some of its members, in a clear jab at Saudi Arabia.  \u201cIran is a member of OPEC because of its interests, and if other members of OPEC seek to threaten Iran or endanger its interests, Iran will not remain […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,5],"tags":[600,701,3217,2428],"class_list":["post-45894","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-geopolitics","tag-opec","tag-saudi-arabia","tag-uae","tag-united-arab-emirates"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/45894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45894"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/45894\/revisions"}],"predecessor-version":[{"id":45896,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/45894\/revisions\/45896"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}