Young Journalists Club | Latest news of Iran and world

News ID: 5954
Iran » Iran
Publish Date: 16:15 - 06 January 2015
Tehran, YJC. Zanganeh blames Saudi Arabia for a recent plunge in oil prices, asserting that Saudi officials have kept oil prices down to reach their temporary political goals.

Iran's oil minister Bijan Zanganeh made the comments in a closed session of the parliament, before which President Hassan Rouhani had stated that the recent plunge in oil prices was a political move.

Ali Al-Naimi, Saudi Arabia’s Oil Minister, had previously announced earlier that Riyadh would not reduce its oil output even if oil prices hit below $40 a barrel.

Many political analysts maintain that Saudi Arabia’s repeated failure in backing insurgents in Syria and the Islamic State in Iraq and the Levant (ISIL) terrorists has made the country resort to such a policy as an act of vengeance against the Islamic Republic of Iran

The recent hearing by the Majlis majority faction of the oil minister was due to review the next Iranian calendar year’s national budget.

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