Iran General NewsIran says US anti-OPEC bill 'inexpert'

Iran says US anti-OPEC bill ‘inexpert’


ImageAFP: A US bill authorising the federal government to sue OPEC in US courts over alleged price fixing is "inexpert" and "misleading," a senior Iranian oil official said on Saturday.

ImageTEHRAN (AFP) — A US bill authorising the federal government to sue OPEC in US courts over alleged price fixing is "inexpert" and "misleading," a senior Iranian oil official said on Saturday.

"The claim that OPEC has imposed the current prices on the market by cutting production is completely inexpert and a projection of US economic problems," said Hojatollah Ghanimi-fard, director of international affairs at the National Iranian Oil Co.

"Misleading the public mind appears to be the main point in this respect," he told the oil ministry's news service Shana.

"Is it not true that OPEC's output is at its highest within recent years and that the strategic supplies in consumer countries, especially the United States, have increased," asked Ghanimi-fard.

Iran is the world's fourth-largest oil exporter and number two in the Organisation of Petroleum Exporting Countries, which produces 40 percent of the world's oil.

On Tuesday, the House of Representatives passed the bill in the latest swipe at the cartel over skyrocketing oil prices, which have shot to 135 dollars a barrel.

The bill would allow the US Justice Department to subject OPEC member nations to the same anti-trust laws that US firms face.

When oil prices reached 115 dollars a barrel last month Iranian President Mahmoud Ahmadinejad said oil was priced too low and that the commodity "should find its real value."

Latest news

Iran’s Meaningless Happiness About Its Membership in the SCO

Seeking for many years to become a member of the Shanghai Cooperation Organization (SCO), Iran’s government tried to overcome...

Regime Corruption at the Heart of Iran’s Economic Crises

As Iranian citizens are suffering under the Iranian regime’s corruption and wrong economic policies, regime officials and the country’s...

Iran: Teacher Suicide Is Increasing

These days, some people in Iran no longer find a way to express their pain, therefore, commit suicide in...

Raisi’s Corrupt Administration Announces Plans To Combat Government’s Corruption

Ebrahim Raisi, the new president of the Iranian regime, has announced that he and his administration will be tackling...

Iran’s Media Warns of Civil Disobedience by the Middle Class

The situation of Iran’s middle class is becoming day after day more critical, and the people’s toleration is weakening...

Hold Iran Accountable for Large-Scale Crimes Before Criticizing Individual Abuses

Several United Nations special rapporteurs and various other human rights defenders have been raising alarms in recent days about...

Must read

Iran behind terror attack in Bahrain – officials

London, 29 Jul - Bahrain's top officials are accusing...

Iran Regime MP: Dangers of Poverty, Unemployment and Hunger

Iran Focus London, 22 October - A member of the Iranian...

You might also likeRELATED
Recommended to you