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December 18, 2014 10:56 am

Iranian Oil Minister Blames Falling Prices on ‘Political Conspiracy’

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Iranian oil tanker. Photo: WikiCommons.

Iranian oil tanker. Photo: WikiCommons.

Daily Telegraph – Iran’s oil minister has said that a “political conspiracy” is to blame for the dramatic slump in the price of crude in remarks that could signal that the Islamic Republic will try to exert pressure on the Organisation of Petroleum Exporting Countries (Opec) to again consider cutting output.

Bijan Zanganeh told the country’s state petroleum news agency: “The prolongation of the downward trend of the oil price in world markets is a political conspiracy going to extremes.”

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