{"id":3210,"date":"2019-05-06T12:38:42","date_gmt":"2019-05-06T12:38:42","guid":{"rendered":"http:\/\/euromenaenergy.com\/?p=3210"},"modified":"2019-05-06T12:38:42","modified_gmt":"2019-05-06T12:38:42","slug":"opecs-collapse-is-likely-warns-iran-oil-minister","status":"publish","type":"post","link":"https:\/\/emimer.com\/?p=3210","title":{"rendered":"Opec\u2019s collapse is likely, warns Iran oil minister"},"content":{"rendered":"
\n

Bloomberg\/ London<\/p>\n<\/div>\n

Iran\u2019s oil minister warned that Opec is in danger of collapse as some nations seek to undermine their fellow members, an apparent reference to Saudi Arabia\u2019s pledge to fill the supply gap created by US sanctions on Iranian exports.
\n\u201cIran is a member of Opec for its interests and any threat from member states won\u2019t go unanswered,\u201d Bijan Namdar Zanganeh said after a meeting with Opec secretary-general Mohammad Barkindo in Tehran on Thursday, according to the oil ministry\u2019s Shana news agency.
\nHis comments come as US President Donald Trump tries to cut the Islamic Republic\u2019s oil exports to zero, backed by a promise from Saudi Arabia and its Gulf allies to increase production to ensure the squeeze doesn\u2019t create a supply shortage.
\nThose countries boosted production last year as the first round of American sanctions hit Iran, without splitting the Organisation of Petroleum Exporting Countries. This year, however, Iran is under even greater pressure, with fewer options to keep its economy afloat.
\nZanganeh had already censured \u201ctwo neighbouring states\u201d for voicing readiness to fill the gap of Iranian barrels in the market. \u201cI told Mr Barkindo that Opec is in danger by the unilateralism of some members and the organisation faces the risk of collapse,\u201d he said on Thursday, stopping short of naming names.
\nThe lost barrels, along with supply disruptions in Venezuela and elsewhere, have raised the question of whether Opec\u2019s biggest producers have a big enough supply buffer to keep the market in balance. Zanganeh last month accused Saudi Arabia and the United Arab Emirates of exaggerating their surplus oil capacity.
\nDiscord between Opec\u2019s Gulf members has shaken the organisation in the past year. Qatar announced its exit in December after more than five decades of membership after neighbour Saudi Arabia targeted the nation with an unjust economic blockade.
\n\u201cQatar\u2019s departure broke the seal. Iran\u2019s would be much more serious, but no longer unthinkable,\u201d said Derek Brower, an analyst at RS Energy Group. \u201cIran thinks two members are conspiring with the US against it \u2014 a good enough reason for Tehran to consider it\u2019s position.\u201d
\nOpec negotiations in December initially ran into difficulties because of disagreement between the Saudis and Iran, but in the end there was a deal. Yet setting aside Qatar\u2019s departure, the group has held together for almost sixty years despite a range of political quarrels and conflicts, such as the Iran-Iraq war in the 1980s and Saddam Hussein\u2019s invasion of Kuwait the following decade.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bloomberg\/ London Iran\u2019s oil minister warned that Opec is in danger of collapse as some nations seek to undermine their fellow members, an apparent reference to Saudi Arabia\u2019s pledge to fill the…<\/p>\n","protected":false},"author":1,"featured_media":3224,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[46,48,57,90,96,107,113,137,139,160,174,183,184,201,202,209,211,230,232,233,244,246,249,256,267,277,279,288,293],"class_list":["post-3210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-aramco","tag-athens","tag-baroudi","tag-democracy","tag-doha","tag-embargo","tag-energy-peace","tag-gas","tag-gazprom","tag-international-maritime-disputes","tag-lebanon","tag-maritime-boundaries-east-mediterranean","tag-maritime-disputes","tag-offshore","tag-oil","tag-opec","tag-opecs-collapse-is-likely","tag-poverty-alleviation","tag-putin","tag-qatar","tag-rosneft","tag-roudi","tag-russia","tag-saudi","tag-straddling-hydrocarbons-reserves","tag-total","tag-trump","tag-usa","tag-warns-iran-oil-minister"],"_links":{"self":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/3210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3210"}],"version-history":[{"count":0,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/3210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/media\/3224"}],"wp:attachment":[{"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}