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Iranian President: Gulf Arab states behind the drop in oil prices and regret it
1/13/2015
((Eighth day)) Iranian President, Hassan Rohani, said on Tuesday that the countries behind the drop in world oil prices, will regret the decision not to cut oil production, warning that Saudi Arabia and Kuwait will suffer like Iran due to falling prices. The Iranian president said in a speech broadcast on state television today, "those who planned to reduce prices at the expense of other countries will regret this decision," a reference to Saudi Arabia, the largest oil exporter in the world. Rohani said, that if Iran has suffered as a result of lower oil prices, other oil-producing nations such as Saudi Arabia and Kuwait will suffer more than Iran. The Iranian oil minister, Bijan Zanganeh, said earlier, that the continued erosion of oil prices in the international markets, "political conspiracy", pointing out that the plot will go to the fullest extent. Oil prices continued losses accelerated, today, Brent crude and WTI to their lowest levels in nearly six years, where he dominated the global supply glut on Chinese data showing a record high and imports of China's major consumer of crude. Hui Saran Alkiesaan 60% from the peak in 2014 recorded in June and the losses exceeded 36% in the last seven weeks.
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1/13/2015
((Eighth day)) Iranian President, Hassan Rohani, said on Tuesday that the countries behind the drop in world oil prices, will regret the decision not to cut oil production, warning that Saudi Arabia and Kuwait will suffer like Iran due to falling prices. The Iranian president said in a speech broadcast on state television today, "those who planned to reduce prices at the expense of other countries will regret this decision," a reference to Saudi Arabia, the largest oil exporter in the world. Rohani said, that if Iran has suffered as a result of lower oil prices, other oil-producing nations such as Saudi Arabia and Kuwait will suffer more than Iran. The Iranian oil minister, Bijan Zanganeh, said earlier, that the continued erosion of oil prices in the international markets, "political conspiracy", pointing out that the plot will go to the fullest extent. Oil prices continued losses accelerated, today, Brent crude and WTI to their lowest levels in nearly six years, where he dominated the global supply glut on Chinese data showing a record high and imports of China's major consumer of crude. Hui Saran Alkiesaan 60% from the peak in 2014 recorded in June and the losses exceeded 36% in the last seven weeks.
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