Tehran, Dec 2, IRNA – Rapporteur of Majlis Energy Commission Hossein Aimir Khamkani said the US and Saudi Arabia are willing to exert pressures on Iran by lowering oil prices.
  Talking to IRNA on Tuesday, he highlighted the reduction of Iran reliance on oil revenues and said the Iranian government is getting accustomed to shrinking oil revenues.
He reiterated that the declining crude prices are due to political and economic developments.

The parliamentarian stressed that the governemtn has been running the country in that past one year with the lowest share of oil-generated revenues.

Saying that pressures on Iran will bear no fruits, he said low oil income could have no determining effect on the economic situation.

Iran's Oil Minister Bijan Namdar Zanganeh visited Vienna last Tuesday to take part in the meeting of the Organization of the Petroleum Exporting Countries (OPEC) to decide on output ceiling.

The meeting decided to stick to its ceiling of 30 million barrels a day as agreed upon in 2011 which meant a production cut of 300,000 barrels a day from October level.

OPEC said in a statement that members had agreed to roll over the ceiling of 30 million barrels per day, at least 1 million above OPEC's own estimates of demand for its oil next year.

The Organization of the Petroleum Exporting Countries accounts for a third of global oil output.

By IRNA

 

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