Iran no threat to world energy security, says Zanganeh
Christian Fernsby ▼ | July 8, 2019
Bijan Zanganeh said that Iran oil is not a threat to global energy security, noting that if this market is at stake, Iran will be affected too.Article continues below
“We have always said that oil is not a weapon but where energy security is at stake, we will be affected," Shana quoted him as saying on Sunday in a televised interview with IRIB.
Reacting to Saudi energy minister’s recent remarks about Iran being a threat to global energy security, he said, “Mr. Falih is a technocrat and a respectable person and does not often speak politically; he must have probably been asked to say such political things.â€
Speaking in a televised interview on Sunday night, Mr. Zanganeh said: “Mr. Falih ought to have said so when I was still there [in Vienna] so that I could properly respond.â€
“Iran is the biggest guarantor of energy stability and security in the region while the US is the biggest de-stabilizing force in the world’s energy sector.â€
For the time being Iran is not primarily concerned with the price of oil and was rather focused on the amount of its oil exports, Zanganeh said.“Right now, the price of oil is not the number one issue for Iran, rather the number of exported oil barrels is what that matters.â€
The US is the world's largest producer of crude oil which had added roughly 3.6 mbd to its output over the past two years. Washington is putting pressure on Iran and Venezuela to make room for its oil in the market, Zanganeh said.
The market was shocked by the US crude output which was completely unexpected, he added.
The Iranian Minister of Petroleum said too high prices could reduce demand for oil which would harm the producers by losing market share which was almost the case for the time being.
He stated that shale oil production breakeven is reportedly below 40 dollars per barrel. ■ What to read next
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