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Oil market is fragile due to US pressures on Iran, Venezuela, says Iran's Oil Minister
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Oil market is fragile due to US pressures on Iran, Venezuela, says Iran's Oil Minister
Apr 14, 2019 5:09 AM

Iran's oil minister said on Sunday that the supply-demand balance in the global oil market is fragile due to US pressures on Iran and Venezuela, and tensions in Libya.

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"Venezuela is in trouble. Russia is also under sanctions. Libya is in turmoil. Part of US oil production has stopped. These show the supply-demand balance is very fragile," Bijan Zanganeh was quoted as saying by Tasnim news agency.

"If they (the Americans) decide to increase pressures on Iran, the fragility will increase in an unpredictable way," Zanganeh added.

First Published:Apr 14, 2019 2:09 PM IST

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