Iraqi oil minister said pressure from the United States would lead to more fragile oil market

Apr. 18, 2019

Iran's Meh News Agency reported on April 14. Iran's oil minister, Zannega, said Sunday that the oil market is fragile and that if the United States decides to put more pressure on Iran, the oil market will become more unpredictable and fragile. Zanganese referred to Trump's threat to Iran. Trump said, "We will continue to work hard (to put pressure on Iran), but it is important that the oil market is fragile and in short supply". Zannega said Trump's statement was mainly for propaganda purposes, not to calm the market. The fact is that oil prices are rising and the market is becoming more and more worried. Trump should choose whether to put more pressure on Iran or keep oil prices low at U.S. gas stations. Zanegar further stressed that Venezuela is in trouble, Russia is restricted, Libya is in a state of turmoil, and the United States has lost part of its oil production capacity. All these indicate that the supply and demand situation is fragile, and the vulnerability of the oil market will be even more unpredictable if the US increases its pressure on Iran.