TEHRAN, Iran, September 7. Iran is ready to increase the world’s energy security by supplying its oil and oil products, said the Iranian minister of petroleum Javad Owji, Trend reports citing Mehr News Agency.
The world needs more oil and gas supply, and Iran is ready to provide it, away from politics, he said.
He noted that natural gas price hikes in Europe have already pushed many consumers to switch to oil and oil products and it will be likely that demand for crude oil will increase.
The minister stressed the current situation requires careful consideration and caution.
According to Owji, the Joint Technical Committee (JTC) of OPEC+ has predicted that the excess supply to global demand for oil in 2022 will be 400,000 barrels per day, which is about 600,000 barrels per day less than the previous month's forecast.