President Donald Trump’s tough stance on Iran’s oil exports is apparently not the only thing that may be causing the price of a barrel to rise.
Hossein Kazempour Ardebili, Iran’s OPEC representative, said on Thursday that Trump’s tweet calling on OPEC to reduce oil prices is actually having the opposite effect—causing oil prices to rise even more.
“You impose sanctions on major producers, founders of OPEC, and yet you are asking them to reduce the prices?! Since when did you start ordering OPEC! Your tweets have driven the prices up by at least $10/b,” Kazempour said in a message published by Iranian Oil Ministry’s Shana news service, adding “Pls stop it, otherwise it will go even higher!”
Iran’s deputy commander of the Sarollah Revolutionary Guards said on Wednesday that any attempt to thwart its oil exports will result in the closure of Strait of Hormuz, the narrow waterway at the mouth of the Persian Gulf, where the world’s biggest concentration of tankers carry about 30 percent of all seaborne-traded crude oil and other liquids during the year.