19 Apr 2024
Thursday 16 October 2014 - 15:19
Story Code : 121527

Iran urged to hold an emergency Opec meeting due to falling oil prices

Iranian officials accuse Saudi Arabia for keeping crude prices low, saying Riyadh is serving western interest
Authorities in Iran have been urged to press for an emergency Opec meeting due the falling crude prices.

Iranian officials have pointed their finger at Saudi Arabia, saying it had deliberately kept prices low by manipulating Opec sales. Irans oil minister, Bijan Zanganeh, has been threatened with a parliament hearing to explain his approach.

Zanganeh implicitly blamed Riyadh for the situation. Some of the biggest producers at Opec should reduce their sales, he said, in what was widely viewed as a criticism of Saudi Arabia.

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