MP: Oil price fall no challenge to Iran economy

Tehran, Jan 4, IRNA – A deputy speaker of Iran’s parliament has said that low oil prices could not pose any challenge to Iran’s economic progress.
  “Oil embargo and low oil prices could not pose any challenge to the Iranian nation’s efforts for reaching the peaks of might,” Mohammad-Hassan Abutorabifard said Sunday.

Addressing the open session of the Majlis he said that Iran can run its affairs without dependence on petrodollars, adding that petrodollars should be funned into National Development Fund of Iran to boost the economy.

Earlier Sunday, Zanganeh briefed Iranian parliamentarians on the developments in international oil markets.

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.

Zanganeh also said OPEC’s leading producers can influence the decisions made by the oil body. “Any member state of this international body with higher production can further influence OPEC’s decisions while many imagine that the level of production by members have no impact on decision-makings,” he told reporters.



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