Iran News ...


04/27/12

Cheap oil, Iran's trump card against European sanctions: Official

Source: Mehr News Agency

The director of the International Department of the National Iranian Oil Company (NIOC) says Iran's cheap oil is the winning card against European sanctions while the U.S. is trying to keep the oil prices high.

On whether Iran which is under sanctions welcomes high oil prices, Mohsen Qamsari said, "In the world market demand and supply are not the only determinant factors in oil prices."

Qamsari told the Mehr News Agency that a supply of cheap oil by Iran would eliminate many competitors from the oil market.

 

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