Minister briefs MPs on world oil market

Tehran, Jan 4, IRNA – Oil Minister Bijan Namdar Zanganeh briefed Iranian parliamentarians on the developments in international oil markets.
  First Vice Speaker Mohammad Hassan Abutorabi Fard said the minister outlined the current situation of the world oil market for the Majlis members during an hour-long closed door session on Sunday.

He provided an overview of fluctuating prices in the international oil markets and exchanged opinion with the lawmakers on the issue.

Zanganeh had earlier said that a conspiracy is behind the continuing oil price slide.

He believed the prolongation of the downward trend of oil price in world markets is a political conspiracy going to extremes.

He also said that the falling oil prices initially stemmed from overglut in markets.