Iran Confident US Cannot Hold off Its Oil Exports

Published October 29th, 2018 - 03:39 GMT
Jahangiri made the remarks in a ceremony on Sunday morning to mark the National Insurance Day. (AFP)
Jahangiri made the remarks in a ceremony on Sunday morning to mark the National Insurance Day. (AFP)

First Vice-President Es’hagh Jahangiri said Sun. that there is no alternative to Iran's oil supplies, adding "with government's planning and appropriate mechanisms, I would say with certainty that the United States will not be able to prevent the country from exporting oil."

Jahangiri made the remarks in a ceremony on Sunday morning to mark the National Insurance Day.

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"Iran exported 2.5 million barrels of oil per day in recent months; now Trump administration might be able to disrupt a few thousands barrels per day of Iranian supply; however, we have always emphasized that Iran's oil exports could not drop below 1 million bpd," Jahangiri noted.

Oil’s rally from less than $30 in early 2016 has amounted to more than $80 per barrel, Jahangiri noted, adding "Americans could not block Iranian oil export; if so, the cost per barrel would have increased over 100%."

 

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