Politicization - main challenge for oil market, Iran's Oil minister says
Baku, Azerbaijan, May 16
By Fatih Karimov - Trend:
Iranian Oil Minister Bijan Namdar Zanganeh says politicization is the main challenge facing the global oil market.
Speaking on the sidelines of the 14th International Energy Forum in Moscow, which opened on May 15, Zanganeh said that oil-producing and oil-consuming countries should focus on the market security, Iran's IRNA news agency reported on May 16.
The market should not become affected by politics and should not become imbalanced, Zanganeh added.
Iran's oil exports dropped for a second month in April, the International Energy Agency said, moving closer to levels allowed by November's interim deal on curbing Tehran's nuclear programme, Reuters reported.
Global imports of Iranian crude in April averaged 1.11 million barrels per day (bpd), the Paris-based IEA said in its monthly Oil Market Report released on Thursday, down 180,000 bpd from March.
"Imports of Iranian crude reached a 20-month high of 1.58 million barrels per day in February but have since edged lower," the IEA, adviser to 29 industrialized countries, said in the report.
Under an interim deal signed in November between Iran and six world powers that came into effect on Jan. 20, known as the Joint Plan of Action (JPOA), Iran's exports are supposed to be held to an average 1 million bpd through July 20.
Signs of higher Iranian sales in late 2013 and early 2014 have led to concerns in Washington that a softening of sanctions has given Tehran's economy a boost.